Deutsche Bank downgrades T-Mobile price competition unlimited plans

Daniel Acker | Bloomberg | Getty Images

A T-Mobile US store in Chicago, Illinois.

Deutsche Bank lowered its rating on T-Mobile shares to hold from buy, citing a more difficult competitive market due to the expansion of unlimited wireless plan offerings.

“We still expect TMUS to exceed its postpaid net add guidance and meet 2017 EBITDA targets; but, we think pricing sees increasing pressure going forward, and expect slowing service revenue growth ahead,” analyst Matthew Niknam wrote in a note to clients Wednesday. “Net net, we think current consensus estimates and stock price incorporate many of the positive catalysts we’ve previously outlined, while underestimating downside risks.”

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