T-Mobile stock ( NASDAQ:TMUS ) is up 3.1% in premarket trading, with the stock last seen trading at $145 after the telecoms firm published third-quarter financial results .
While T- Mobile sales of $19.48 billion fell short of expectations , the company’s profitability of 40 cents per share exceeded expectations by 36 cents. Furthermore, the business recorded its largest increase in customers since its merger with Sprint in 2020, and it boosted its annual projection for cellular subscriber additions for the third time this year.
Market Analysis
Analysts have already weighed in. Deutsche Bank and Cowen and Company raised their price targets to $192 and $201 per share, respectively, while Raymond James reduced their price target to $175 from $178. The 12-month average target price of $174.23 represents a 20.2% premium to the previous night’s finish, and all 14 covered brokerages rated TMUS a “buy” or better.
If today’s price movement holds, T-Mobile ( NASDAQ:TMUS ) will be considerably closer to its all-time high of $148.04. Though the security is currently trading around its all-time high of $150.20 set on July 16, it is supported by all significant long- and short-term trendlines and has a 21% year-to-date lead.
T-Mobile Stock and the Interest Rates Rise
The most recent Consumer Price Index (CPI) measurement suggests that inflation may have peaked. However, if you go to the grocery store or pay your rent, you know that costs are not going down anytime soon. In fact, there is increasing concern that inflation will be persistent.
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