LightShed upgrades T-Mobile and AT&T to Buy on revenue growth

LightShed Partners upgraded both T-Mobile (TMUS) and AT&T (T) to Buy from Neutral, calling them the only two names in the firm’s U.S. Connectivity coverage positioned to deliver revenue growth over the next five years. T-Mobile has “the price, the brand, the network, and the spectrum,” while AT&T has “the only bundle worth owning,” the analyst tells investors. The market is worried about convergence price pressure, SpaceX, and “an irrational Verizon” and while “the threats are real,” none of them are big enough to “break the thesis at T-Mobile or AT&T,” added the analyst, who maintains Neutral ratings on Charter (CHTR) and Verizon (VZ) and initiated Comcast (CMCSA) at Neutral.