Telephone and Data earnings selloff a buying opportunity, says JPMorgan

JPMorgan analyst Sebastiano Petti raised the firm’s price target on Telephone and Data (TDS) to $40 from $39 and keeps an Overweight rating on the shares. The firm sees Friday’s pullback post the Q3 results as a buying opportunity as it expects further spectrum sales over the coming months and quarters with the potential for additional asset monetization.