Wells Fargo raised the firm’s price target on T-Mobile (TMUS) to $235 from $220 and keeps an Equal Weight rating on the shares. The firm cites a very strong Q4 print from T-Mobile, with a beat across nearly all KPIs and a better-than-expected outlook for subs, service revenues and free cash flow. While guidance looks achievable, Wells does think that T-Mobile’s premium valuation could limit further upside.
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