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4 big analyst picks: T-Mobile upgraded to Outperform on competitive advantages

AuthorDavit Kirakosyan Stock Markets

Published Jun 09, 2023 05:20AM ET

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4 big analyst picks: T-Mobile upgraded to Outperform on competitive advantages

GLW

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BFb

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PFG

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TMUS

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Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at T-Mobile US, Brown-Forman, Corning, and Principal Financial Group.

InvestingPro subscribers got this news before anyone else. Start your 7-day trial to get on board.

T-Mobile shares gain on upgrade

T-Mobile US (NASDAQ:TMUS) shares rose nearly 3% yesterday after Wolfe Research upgraded the company to Outperform from Peerperform with a price target of $160.00, as InvestingPro reported in real time.

The firm has a positive outlook on the T-Mobile stock, despite its 21% decline year-to-date. This is primarily because they believe the intrinsic value growth per share is expected to be strong.

According to the firm, while cable companies have been successful in attracting 45% of the industry's new subscribers in 2023 through competitive pricing for postpaid phone services, T-Mobile's pricing and value proposition make it the most favorable choice for the majority of new customers who purchase 3 or more lines per account.

Brown-Forman upgraded to In Line

Evercore ISI upgraded Brown-Forman (NYSE:BFb) to In Line from Underperform and raised its price target to $68.00 from $60.00, noting that the company has tremendous brand assets, a demonstrated record of patient and effective innovation, and a long growth runway, and deserves to trade at a substantial premium to the Staples sector.

The company reported an unexpected rise in Q4 revenues on Wednesday as consumer demand for premium items remains resilient despite inflationary pressures.

2 more upgrade

Corning (NYSE:GLW) shares rose more than 2% pre-market today after Morgan Stanley upgraded the company to Overweight from Equalweight and raised its price target to $38.00 from $35.00.

Keefe, Bruyette & Woods upgraded Principal Financial (NASDAQ:PFG) to Market Perform from Underperform with a price target of $75.00.

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4 big analyst picks: T-Mobile upgraded to Outperform on competitive advantages

T-Mobile shares gain on upgrade

Brown-Forman upgraded to In Line

2 more upgrade

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