Stock Market News

Morgan Stanley Expects T-Mobile to Start ‘Smaller’ With Share Buybacks

2022.08.31 18:43

Morgan Stanley Expects T-Mobile to Start 'Smaller' With Share Buybacks
Morgan Stanley Expects T-Mobile (TMUS) to Start ‘Smaller’ With Share Buybacks

By Sam Boughedda

A Morgan Stanley analyst named T-Mobile (NASDAQ:TMUS) a catalyst driven idea as it expects the company to announce the commencement of its buyback program with third-quarter earnings.

The analyst has an Overweight rating and a $159 price target on the stock.

He told investors that they expect T-Mobile to announce “board approval and commencement of a share buyback program with 3Q22 earnings in late-October/early-November (3Q earnings were released on November 2 last year).”

“At the company’s analyst day in March 2021, management outlined potential shareholder returns of up to $60bn from 2023 to 2025 but has repeatedly indicated these returns could begin sooner,” wrote the analyst. “The size of this potential program is notable at >30% of the company’s market cap and >65% of the company’s free float (excluding shares controlled by Deutsche Telekom (OTC:DTEGY) and SoftBank).”

The analyst outlined three potential scenarios, which include no announcement of buybacks, beginning with a smaller amount or a larger sooner policy. Morgan Stanley believes T-Mobile will start smaller.

“Our base case is most similar to scenario 2. We assume $12bn in buybacks in 2023, though we have not officially modeled an early commencement in 2022,” commented the analyst. “We expect official authorization/commencement of the buyback to drive a positive reaction for shares.”

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 67,878.19 0.83%
ethereum
Ethereum (ETH) $ 2,427.21 0.96%
tether
Tether (USDT) $ 0.999816 0.02%
bnb
BNB (BNB) $ 555.30 0.02%
solana
Solana (SOL) $ 161.62 0.20%
usd-coin
USDC (USDC) $ 1.00 0.07%
xrp
XRP (XRP) $ 0.509763 1.93%
staked-ether
Lido Staked Ether (STETH) $ 2,426.94 0.97%
dogecoin
Dogecoin (DOGE) $ 0.158567 7.71%
tron
TRON (TRX) $ 0.163879 0.26%
the-open-network
Toncoin (TON) $ 4.79 0.51%
cardano
Cardano (ADA) $ 0.326159 2.12%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,878.03 0.70%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,847.18 0.65%
shiba-inu
Shiba Inu (SHIB) $ 0.000017 1.63%
avalanche-2
Avalanche (AVAX) $ 23.12 0.49%
weth
WETH (WETH) $ 2,425.45 1.05%
bitcoin-cash
Bitcoin Cash (BCH) $ 335.99 1.08%
chainlink
Chainlink (LINK) $ 10.35 3.70%
usds
USDS (USDS) $ 1.00 0.07%
leo-token
LEO Token (LEO) $ 6.04 1.37%
polkadot
Polkadot (DOT) $ 3.78 0.20%
sui
Sui (SUI) $ 1.89 2.04%
litecoin
Litecoin (LTC) $ 66.58 0.38%
near
NEAR Protocol (NEAR) $ 3.63 0.60%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,552.57 0.97%
aptos
Aptos (APT) $ 8.09 0.56%
uniswap
Uniswap (UNI) $ 6.85 1.87%
pepe
Pepe (PEPE) $ 0.000008 0.45%
internet-computer
Internet Computer (ICP) $ 7.13 0.41%
dai
Dai (DAI) $ 1.00 0.06%
bittensor
Bittensor (TAO) $ 423.72 1.71%
monero
Monero (XMR) $ 161.47 2.79%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.13 1.38%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.05%
stellar
Stellar (XLM) $ 0.091476 1.04%
whitebit
WhiteBIT Coin (WBT) $ 18.87 0.18%
ethereum-classic
Ethereum Classic (ETC) $ 17.76 0.16%
kaspa
Kaspa (KAS) $ 0.10282 5.73%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.61%
okb
OKB (OKB) $ 37.53 0.40%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.293599 2.61%
blockstack
Stacks (STX) $ 1.47 1.31%
dogwifcoin
dogwifhat (WIF) $ 2.03 0.47%
filecoin
Filecoin (FIL) $ 3.34 0.64%
aave
Aave (AAVE) $ 129.16 1.87%
crypto-com-chain
Cronos (CRO) $ 0.070993 0.27%
arbitrum
Arbitrum (ARB) $ 0.478031 0.13%
mantle
Mantle (MNT) $ 0.556006 0.56%
celestia
Celestia (TIA) $ 4.40 2.12%