T-Mobile price target raised to $250 from $215 at Oppenheimer

Oppenheimer raised the firm’s price target on T-Mobile (TMUS) to $250 from $215 and keeps an Outperform rating on the shares. The firm notes T-Mobile delivered industry-leading service revenue growth of 5.1% driven by the highest ARPA growth in seven years and postpaid phone net adds of +865K, a 65K beat. The company continues to take outsized subscriber share in both mobile and broadband through its superior network and competitive pricing, Oppenheimer adds. T-Mobile is the firm;s top pick in the communications sector.