Wolfe Research upgraded the telecom stock to "outperform"
T-Mobile Us Inc (NASDAQ:TMUS) stock is 0.7% higher in premarket trading, after Wolfe Research upgraded the telecommunications company's shares to "outperform" from "peer perform." The analyst also holds a $160 price target, which is a 26% premium to last night's close. In its bull note, Wolfe Research said it expects T-Mobile to maintain its leadership via 5G postpaid net additions.
The majority of analysts are already bullish, with 30 of the 33 in coverage rating TMUS a "buy" or better. Meanwhile, the 12-month average target price of $177.95 is a 40.6% premium to last night's close.
The options pits also lean optimistic. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), T-Mobile stock sports a 10-day call/put volume ratio of 1.84, which ranks in the 88th percentile all readings from the past 12 months.
The stock is fighting its way higher on the charts, last seen sitting at $127.46 before the bell, as it looks to rally from its lowest levels in roughly a year -- a move in line with sector peers after Amazon.com (AMZN) discussed entering the mobile service sphere. In 2023, TMUS is down roughly 9%.