- Citi analyst Michael Rollins reiterated a Buy rating on T-Mobile US, Inc (NASDAQ:TMUS) and raised the price target from $172 to $174.
- The analyst updated his outlook for T-Mobile following the pre-released 4Q KPIs during Citi’s 2023 CME Conference.
- The more significant reduction in 4Q churn could be a prelude to better churn rates in the future.
- Rollins believes the completed network integration and ongoing reduction of leased devices can lead to further improvements in churn during 2023 over 2022.
- A lower churn outcome can help improve annual postpaid phone growth, reduce acquisition costs (and improve EBITDA), or combine these potential benefits.
- The analyst believes T-Mobile can sustain favorable revenue growth (relative to the industry) in 2023 while improving margins and repurchasing a significant percentage of its shares.
- Rollins remains a buyer of T-Mobile as a top-ranked pick, incorporating some moderation rates and an updated multi-year financial outlook.
- Price Action: TMUS shares traded lower by 0.10% at $145.00 on the last check Friday.
Elon Musk Enters The Space Race Again, This Time With Cell Phones: Here’s A Public Company Building Its Own Space Network
T-Mobile US Inc. (NASDAQ: TMUS) and Elon Musk's SpaceX jointly announced a technology cooperation agreement on Thursday at the former's Starbase facility in south Texas.
