TD Cowen Adjusts T-Mobile (TMUS) Price Target After Solid Q3 Performance and EBITDA Beat

T-Mobile US, Inc. (NASDAQ:TMUS) ranks among the best long-term stocks to buy according to D. E. Shaw. On October 24, TD Cowen maintained a Buy rating on T-Mobile US, Inc. (NASDAQ:TMUS), but lowered its price target to $263 from $291. The adjustment came after T-Mobile’s third-quarter 2025 results, which included a minor EBITDA beat and solid performance in both phone subscriber additions and fixed wireless access (FWA) customer growth.

In contrast to the projected $2.4, the company’s earnings per share came in at $2.41. Furthermore, T-Mobile’s revenue topped the projected $21.88 billion, coming in at $21.96 billion. Particularly striking was the 26% year-over-year increase in postpaid net account additions, which totaled 396,000.

TD Cowen warned that, despite these positive indicators, T-Mobile’s EBITDA guidance increase effectively amounts to a fourth-quarter projection cut when taking into account the USM acquisition and the quarterly beat.

The firm voiced concerns over the wireless market’s growing level of competition, pointing to recent AT&T results and the departure of Verizon’s CEO as indicators of a more difficult 2026 environment.

Based in Bellevue, Washington, T-Mobile US, Inc. is a prominent supplier of wireless telecommunication services.

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This article is originally published at Insider Monkey.