Upcoming Q4 Results Could Trigger a Rally in T-Mobile US (TMUS)

T-Mobile US Inc. (NASDAQ:TMUS) is one of the best communication services stocks according to Hedge Funds.

On January 7, Maher Yaghi from Scotiabank reaffirmed his Buy rating for T-Mobile US (NASDAQ:TMUS). Yaghi has revised his target price from $278 to $270.5, which still yields over 37% upside for investors.

Yaghi’s rating is part of Scotiabank’s recent price target revisions for the broader Telecommunication Services universe. These updates are based on the firm’s estimates for the upcoming Q4 results. The firm noted decent revenue and EBITDA growth across the industry despite an increased level of promotional activity during the holiday season.

On December 15, Wolfe Research analyst Peter Supino also reiterated his bullish call on T-Mobile US (NASDAQ:TMUS). Supino assigned a Buy rating to the stock but also lowered his price target from $290 to $253. Even after this downward revision, Supino sees more than 26% upside potential for investors.

T-Mobile US (NASDAQ:TMUS) is a wireless carrier offering voice, data, and communication services through prepaid & postpaid mobile plans and business solutions. It is a subsidiary of the German company Deutsche Telekom, and has an extensive focus on 5G network.

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Disclosure: None. This article is originally published at Insider Monkey.