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.
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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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