RBC Capital Believes T Mobile US (NYSE: TMUS) Still Has Room to Grow

By Ryan Adsit

In a report released yesterday, Jonathan Atkin from RBC Capital reiterated a Buy rating on T Mobile US (NYSE: TMUS), with a price target of $76. The company’s shares closed yesterday at $67.90, close to its 52-week high of $68.88.

According to TipRanks.com, Atkin is a top 25 analyst with an average return of 16.7% and a 83.8% success rate. Atkin covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, Interxion Holding NV, and Zayo Group Holdings.

Currently, the analyst consensus on T Mobile US is Strong Buy and the average price target is $71.33, representing a 5.1% upside.

In a report issued on May 19, Goldman Sachs also reiterated a Buy rating on the stock with a $81 price target.

Based on T Mobile US’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $9.61 billion and quarterly net profit of $698 million. In comparison, last year the company earned revenue of $8.6 billion and had a net profit of $479 million.

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T-Mobile US, Inc. engages in the provision of mobile communications services under the T-Mobile, MetroPCS, and GoSmart brands in the U.S., Puerto Rico, and the U.S. Virgin Islands. It offers postpaid and prepaid wireless voice, messaging and data services, and wholesale wireless services. The company also provides wireless handsets and accessories, including smartphones; wireless-enabled computers, such as notebooks and tablets; and data cards manufactured by various suppliers. It sells services, handsets, tablets, and accessories to consumers through the company’s owned and operated retail stores, as well as through Websites; and to dealers and other third party distributors for resale through independent third-party retail outlets and a various third-party Websites. The company was founded on April 30, 2013 and is headquartered in Bellevue, WA.