UPDATE: Canaccord Genuity Upgrades T-Mobile US as Solid Results are Expected to Continue
In a report published Wednesday, Canaccord Genuity analyst Greg Miller upgraded the rating on T-Mobile US (NYSE: TMUS) from Hold to Buy, and raised the price target from $25.00 to $33.00.
In the report, Canaccord Genuity noted, “T-Mobile US reported Q3/13 results with key post-paid subscriber growth that significantly exceeded our expectations while not surprisingly slightly pressuring financial results. Now that management has demonstrated it is not as dependent upon the iPhone for growth and that the cost structure continues to improve, we are increasingly comfortable with the stock and are therefore increasing our rating to a BUY from a Hold. With more things going the company's way than against it, we believe the stock will continue to outperform the market.”
T-Mobile US closed on Tuesday at $28.12.
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