Raymond James downgraded T-Mobile to Outperform from Strong Buy with a price target of $221, up from $208. The firm remains positive on the stock, but does not see the immediate share price upside as it did previously post the recent rally. While T-Mobile’s outlook for long-term free cash flow is still much better than peers, “it is more of a recipe for steady long-term returns versus immediate and dramatic returns,” the analyst tells investors in a research note.
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