T-Mobile US (TMUS) Estimates Raised at RBC Capital After Earnings

RBC Capital analyst Jonathan Atkin reiterated a Sector Perform rating and $133.00 price target on T-Mobile US, (NASDAQ: TMUS) after Total revenue of $19.8B was 4.4% ahead of consensus, largely driven by outperformance in equipment revenue. Service revenue was $14.2B, slightly below consensus by 0.1% while Equipment revenue of $5.3B was 20.1% ahead of consensus. EBITDA of $6.9B beat consensus by 3.2%. Management raised its guidance ranges for 2021 to postpaid net adds of 4.4-4.9M (vs 4.0–4.7M prior), EBITDA of $26.5–27.1B (vs. $26.5-27.0B prior), net cash from operating activities of $13.2-13.6B (vs. $13.0–13.5B prior), FCF of $5.1-5.5B (vs. $4.9–5.4B prior).

The analyst stated "1Q21 financials and operating metrics were solid, with EBITDA beating consensus by 3.2% and subscriber KPIs largely ahead of consensus. Management raised 2021 merger synergy targets and 2021 postpaid net adds, EBITDA and FCF guidance."

For an analyst ratings summary and ratings history on T-Mobile US, click here. For more ratings news on T-Mobile US, click here.

Shares of T-Mobile US, closed at $128.48 yesterday.

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