Morgan Stanley raised the firm’s price target on T-Mobile (TMUS) to $285 from $265 and keeps an Overweight rating on the shares. Following stronger-than-expected Q2 results, increased 2025 guidance, and a larger cash tax benefit from recent tax reform, the firm modestly raised estimates and says it has “increased conviction” in its estimate of 20%-plus fully taxed free cash flow per share growth from 2024 through 2027.
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