T-Mobile price target raised to $240 from $230 at Wells Fargo

Wells Fargo analyst Eric Luebchow raised the firm’s price target on T-Mobile (TMUS) to $240 from $230 and keeps an Overweight rating on the shares, citing a big beat on postpaid phones and steady execution across financial metrics. While the stock run may make significant near-term upside less likely, the solid fundamental backdrop plus buyback provide support for shares, Wells adds.