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![wallstengine Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1508426880860704771.png) Wall St Engine [@wallstengine](/creator/twitter/wallstengine) on x 71.8K followers
Created: 2025-07-09 08:32:39 UTC

KeyBanc Downgrades $TMUS to Underweight from Sector Weight, PT $XXX

Analyst comments: "Despite underperformance YTD, we think underperformance will continue for these reasons: 1) we think TMUS is fiber deficient in a converged/bundled world; 2) we think the near-term macro and competitive environment limits upside to expectations; 3) we think TMUS's consumer value proposition has deteriorated due to recent pricing actions, which suggest TMUS shouldn't take outsized share of the industry net adds; and 4) we think TMUS will relatively benefit the least from tax changes due to OBBB. With TMUS trading at approximately 9.5x our 2026 adjusted EBITDA, versus the three-year and peer average of 9.4x and 7.6x, we think TMUS's premium valuation is just too high. We are lowering estimates."

Analyst: Brandon Nispel


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**Related Topics**
[$tmus](/topic/$tmus)
[stocks communication services](/topic/stocks-communication-services)

[Post Link](https://x.com/wallstengine/status/1942864462169755923)