JPMorgan maintains its "Overweight" rating on T-Mobile US. The bank designates T-Mobile US as a top pick.
JPMorgan views the stock's recent decline as an attractive entry point. T-Mobile shares have pulled back 5.5% since its second-quarter results were announced. The investment bank highlights this pullback as an opportunity.
JPMorgan bases its positive outlook on T-Mobile's industry-leading growth and relative valuation.
The firm projects T-Mobile's core EBITDA can grow by approximately 8% annually through 2028.
It also projects free cash flow per share will grow by 11% annually through 2028.
The bank anticipates a potential upside to T-Mobile's guidance on net account additions for the third quarter.