© Reuters. Analysts positive on T-Mobile (TMUS) after strong preliminary Q4 results
By Senad Karaahmetovic
T-Mobile US (NASDAQ:) announced preliminary results for the fourth quarter, better than analysts expected. As a result, T-Mobile stock is trading around 1% in the green despite today’s more than 1% drop.
T-Mobile said it added 1.84 million new postpaid customers in the fourth quarter to reach a record 6.4 million for the year 2022. Fourth quarter consensus of 929,000. Postpaid phone churn of 0 .92% was better, with the consensus being 0.98%.
“We believe investors will react positively to the results, especially given concerns over supply chain issues heading into the quarter. We reiterate our buy rating (on CL) on T-Mobile and maintain our 12-month price target of $180 after the mobile carrier’s strong pre-announcement in 4Q22,” analysts commented.
Morgan Stanley analysts added:
“We believe the bar has been lowered somewhat in recent weeks due to iPhone supply concerns and expect stocks to react positively to this result. The company did not provide financial data. with the release, but we expect a modest margin due to lower gross add activity in the quarter. TMUS remains our top pick in telecommunications services.”