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Mobile gains as Raymond James upgrades to 'outperform'

By Reuters News4 hours ago Updated

** Shares of telecom operator T-Mobile TMUS.O up ~3% at $152.40 in morning trading

** Brokerage Raymond James raises rating to "outperform" from "market perform"; initiates PT of $170

** Says recent concerns over potential competition from SpaceX SPCX.O appear overstated

** Adds that the recent pullback has left the stock trading at a more attractive valuation relative to its growth outlook and to peers such as AT&T and Verizon

** 14 of 18 brokerages rate the stock "buy" or "higher", 4 "hold"; their median PT is $235, - data compiled by LSEG

** Up to last close, stock was down about 27% YTD

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