T-Mobile estimates adjusted at Oppenheimer to account for iPhone 14 shortages By Investing.com

By Sam Boughedda

Oppenheimer analysts decreased its estimates for T-Cellular US (NASDAQ:) in a word to purchasers on Thursday however saved an Outperform ranking and $190 worth goal on the inventory.

The analysts instructed traders they’re adjusting their T-Cellular mannequin to account for the continued scarcity of the brand new iPhone 14 mannequin.

“We decreased our 4Q gear income estimate from $5.2B to $4.8B. Accordingly, our complete income estimate for FY22 decreased 60 bps. We lowered our FY22 EBITDA estimate by 40 bps. Our subscriber estimates stay unchanged,” they mentioned.

Nevertheless, they consider TMUS will “enter 2023 with sturdy momentum and can proceed to see main enhancements in its community.”

“We stay very optimistic on fastened wi-fi and TMUS will proceed to profit from value-seeking switchers who’re self-selecting premium limitless plans through which prospects can bundle Residence Web with cell and save $20/month. The corporate expects FWA quarterly web provides of round 500K by means of 2025. We anticipate this to speed up in 2024, however even at this tempo TMUS will exceed its 7–8M goal,” the analysts added.

In the meantime, at Wolfe Analysis, analysts maintained an Outperform ranking and $168 worth goal on T-Cellular, telling traders in a memo that the agency is updating its estimates, “primarily to mirror a barely decrease price of postpaid telephone and Residence Web subscriber development in 4Q’22.”

“Web web, we modestly lowered 4Q income (by 40bps to $20.828B vs. FS $20.800B), core adj. EBITDA (by 50bps to $6.590B vs. FS $6.607B), and EPS (by $0.02 to $1.07 vs. FS $1.05). Most notable amongst our 4Q adjustments had been a discount in postpaid telephone web provides to 900k from 1.0M, and a decline in Residence Web web provides to 550k from 600k (we additionally lowered ’23 web provides to 2.0M from 2.2M),” the analysts confirmed.

T-Cellular US shares are down 1.44% Thursday on the time of writing.