Why T-Mobile Shares Plunged on a Strong Day for the Nasdaq
Shares of T-Mobile (NASDAQ: TMUS) fell 4.3% on Monday as of 11:37 a.m. ET, a notable decline even as the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up over 1.8% by that time.
T-Mobile was a massive winner in 2024, finishing the year up 40% with dividends included. However, with its shares perhaps reflecting the strength of its business and the full synergies from the 2020 Sprint merger, two Wall Street analysts both downgraded shares today.
Today, sell-side analysts at both Wells Fargo and RBC Capital downgraded T-Mobile from a buy to a hold rating. The analyst team at Wells lowered its price target from $240 to $220, while the RBC team lowered its target from $255 to $240. T-Mobile’s stock entered the day at just over $219 per share.
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