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T-Mobile Hit By Second Security Breach In 2020
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T-Mobile Hit By Second Security Breach In 2020

T-Mobile US reported another security breach last week, marking the second such incident during the course of 2020.

T-Mobile (TMUS) announced that it has discovered unauthorized access to some of its customers’ account information. According to the telecommunication giant, hackers accessed customer proprietary network information (CPNI), through which they might have obtained its customers’ phone number and their call-related information data.

However, the company said that “the data accessed did not include names on the account, physical or email addresses, financial data, credit card information, social security numbers, tax ID, passwords, or PINs.” (See TMUS stock analysis on TipRanks)

T-Mobile also stated that “We immediately started an investigation, with assistance from leading cybersecurity forensics experts, to determine what happened and what information was involved. We also immediately reported this matter to federal law enforcement and are now in the process of notifying impacted customers.”

Earlier, the wireless carrier had suffered a data breach in March 2020. At that time the company had said that attackers accessed certain customer account information that may have included financial data.

On Dec. 22, Oppenheimer analyst Timothy Horan upgraded the stock to Buy from Hold and reiterated a price target of $160 (18.7% upside potential).

In a note to investors, Horan wrote, “T-Mobile should continue to grow market share, given its superior 5G network and 10% price discounts. TMUS operates at lower EBITDA margins than peers, but should eventually exceed them. The first-quarter analyst day and potential start of stock buybacks by YE21 are positives.”

Like Horan, the rest of the Street also has a bullish outlook on the stock. The Strong Buy analyst consensus is based on 14 Buys and 2 Holds. Meanwhile, the average analyst price target of $145.75 implies 8.1% upside potential. T-Mobile stock soared about 72% in 2020.

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FireEye Sinks 13% After Cyberattack Hit; Citigroup Says Hold

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