Oppenheimer Updates its View on T-Mobile US
Oppenheimer analysts provided a review on T-Mobile US, Inc. (NASDAQ:TMUS), adjusting their model to account for the ongoing shortage of the new iPhone 14 model.
The analysts revised their Q4 equipment revenue estimate down from $5.2 billion to $4.8 billion. Despite this, they expect the company to enter 2023 with strong momentum and see significant improvements in its network. These improvements include increasing the spectrum depth from 120 MHz to 200 MHz by the end of 2023 and launching the mid-band spectrum on 5G Standalone. The company is also expanding geographically to new areas. Last quarter, T-Mobile completed the shutdown of the Sprint network and the merger is expected to be complete next year, at which point the full synergies should be realized.
The analysts are optimistic about fixed wireless services and expect to see around 500,000 quarterly net adds through 2025, as customers choose premium unlimited plans that allow them to bundle Home Internet with mobile and save $20 per month.
| Symbol | Price | %chg |
|---|---|---|
| TLKM.JK | 3130 | 0 |
| ISAT.JK | 10700 | 0 |
| DNET.JK | 4930 | 0 |
| MTEL.JK | 645 | 0 |
Oppenheimer Updates its View on T-Mobile US
Oppenheimer analysts provided a review on T-Mobile US, Inc. (NASDAQ:TMUS), adjusting their model to account for the ongoing shortage of the new iPhone 14 model.
The analysts revised their Q4 equipment revenue estimate down from $5.2 billion to $4.8 billion. Despite this, they expect the company to enter 2023 with strong momentum and see significant improvements in its network. These improvements include increasing the spectrum depth from 120 MHz to 200 MHz by the end of 2023 and launching the mid-band spectrum on 5G Standalone. The company is also expanding geographically to new areas. Last quarter, T-Mobile completed the shutdown of the Sprint network and the merger is expected to be complete next year, at which point the full synergies should be realized.
The analysts are optimistic about fixed wireless services and expect to see around 500,000 quarterly net adds through 2025, as customers choose premium unlimited plans that allow them to bundle Home Internet with mobile and save $20 per month.
T-Mobile Estimates Reduced Ahead of Q3 Results
Oppenheimer analysts share their outlook on T-Mobile US, Inc. (NASDAQ:TMUS) upcoming Q3 results, tweaking down their EBITDA estimates.
According to the analysts, the typical seasonal weakness seen in Q4 will be offset by merger-related synergies as the company finishes decommissioning its 3G network in December. Accordingly, the analysts smoothed their EBITDA estimates from Q3 to Q4. The company will enter 2023 with strong momentum as it hits the full run rate of synergies due to the completion of its network shutdown. The analysts expect the company to lead the industry in postpaid phone net adds this quarter with over 750,000 and its fixed wireless customer base is on pace to exceed 2 million subscribers annually and ramping.
The analysts reduced their 2022 EBITDA estimate by 110 bps and lowered their 2023 EBITDA from $29.5 billion to $28.3m billion, both within the guidance range.
