T-Mobile price target raised to $255 from $232 at RBC Capital

RBC Capital analyst Jonathan Atkin raised the firm’s price target on T-Mobile (TMUS) to $255 from $232 and keeps an Outperform rating on the shares. The company’s Q3 results were in-line to ahead of consensus expectations, with continued momentum in postpaid phone net additions and efficient free cash flow conversion, the analyst tells investors in a research note. T-Mobile management also increased 2024 guidance for postpaid net additions, EBITDA, and free cash flow while keeping capex unchanged, RBC added.