T-Mobile US, (TMUS) PT Raised to $275 at Benchmark

Benchmark analyst Matthew Harrigan raised the price target on T-Mobile US, (NASDAQ: TMUS) to $275.00 (from $255.00) while maintaining a Buy rating.

He said, "

The twenty point price target increase recognizes yesterday’s strong results delivery and incremental market share gains relative to AT&T (T-NR) and Verizon (VZ-NR), as well as heighted long-term growth confidence. The postpaid phone gain of 903K represented ~46% of 4Q24 total growth among the three major U.S. MNOs and represented TMUS’s highest ever quarterly postpaid phone gain. Any effects from a slowdown in overall U.S. wireless additions should be moderated by Benchmark’s analysis (see Figure 5) suggesting TMUS need only maintain modest growth in its affluent performance determinative and urban subscriber wheelhouses given benefits from rectifying its market share gap in smaller markets as well as corporate accounts. CEO Mike Sievert indicated on yesterday’s call that T-Mobile is actually gaining share in urban markets where it often already has leadership, with its network and consumer experiential leadership again affirmed by OpenSignal and Ookla. T-Mobile provided 2025 postpaid connection guidance for 5.5M to 6M connections this year, the highest it has ever provided embarking on a new year. As suggested in our note earlier this week, T-Mobile should also benefit significantly off superior consumer switching share if intimations during this year’s CES that phone replacement cycles should accelerate off new AI capabilities are realized."

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