Telephone and Data price target raised to $56 from $53 at JPMorgan

JPMorgan analyst Sebastiano Petti raised the firm’s price target on Telephone and Data to $56 from $53 and keeps an Overweight rating on the shares. The firm sees “encouraging” wireless and broadband trends. While it remains Overweight on Telephone and Data (TDS) shares, JPMorgan prefers to play the sum of the parts story through U.S. Cellular (USM) given greater certainty of capital returns.