Report
Petra Vacval, CFA
EUR 101.80 For Business Accounts Only

T-Mobile Again Delivers Strong Revenue Growth and Customer Gains; Maintaining FVE of $67

T-Mobile again delivered total revenue growth and postpaid phone customer net additions that exceeded consensus expectations. Sizable postpaid gains, solid churn improvement, and stable pricing all contributed to a strong quarter. We are maintaining our $67 fair value estimate for this no-moat stock that is trading in 3-star territory. We recommend that investors seek a wider margin of safety prior to investing additional capital due to T-Mobile’s high uncertainty rating.
Total revenue grew 10% ...
Underlying
T-Mobile US Inc.

T-Mobile US provides mobile communications services, including voice, messaging and data, under its brands, T-Mobile and Metro? by T-Mobile, in the United States, Puerto Rico and the United States Virgin Islands. The company provides mobile communications services using its 4G Long-Term Evolution network and its 5G technology network. The company also provides various wireless devices, including handsets, tablets and other mobile communication devices, and accessories for sale, as well as financing through Equipment Installment Plans and leasing through JUMP! On Demand?. The company provides reinsurance for handset insurance policies and extended warranty contracts offered to its mobile communications customers.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Petra Vacval, CFA

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