U.S. Cellular price target raised to $88 from $86 at JPMorgan

JPMorgan raised the firm’s price target on U.S. Cellular (USM) to $88 from $86 and keeps an Overweight rating on the shares. The firm says U.S. Cellular remains a top mid-cap pick as it sees additional opportunities for value unlock and the potential for substantial capital returns to shareholders via a special dividend by late 2026. It increased the price target to reflect its updated sum-of-the-parts analysis and “encouraging” wireless and broadband trends.