CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:
We raise our 12-month target price by $3 to $19, 7.9x our 2024 EPS estimate a slight premium to its three-year forward average at 7.3x, reflecting recent results. We trim our 2024 EPS estimate by $0.10 to $2.39 and set 2025’s at $2.45. T reported Q4 operating EPS of $0.54 vs. $0.61, $0.02 below the consensus. Q4 revenue increased 2.2%, driven by 4.1% growth in the Mobility segment, with a 3.9% increase in service revenue and 4.7% growth in equipment. The Consumer Wireline segment saw a 3.8% increase, driven by 8.3% broadband growth, but partially offset by a 10.3% decline in the Business Wireline segment due to ongoing declines in legacy offerings. Postpaid net phone adds were 526K, while prepaid phone net losses were 132K. Given what T and Verizon (VZ 41 **) reported, the wireless industry was clearly strong in Q4, while the fact that T surpassed VZ across most metrics indicated that the company is turning things around.