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Why T-Mobile's Stock Is Trading Higher Today

T-Mobile (NASDAQ: TMUS) shares are trading higher on Friday. Raymond James maintained its Outperform rating on the stock and raised its price target from $99 to $105 per share.

Benzinga · 05/22/2020 18:55

T-Mobile (NASDAQ: TMUS) shares are trading higher on Friday.

Raymond James maintained its Outperform rating on the stock and raised its price target from $99 to $105 per share.

Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile US. Following the merger, the firm provided nationwide service in major markets but spottier coverage elsewhere. T-Mobile is the third-largest carrier in the U.S., trailing AT&T and Verizon, though it will roughly match AT&T's size with the acquisition of Sprint.

T-Mobile shares were trading up 1.77% at $96.06 on Friday. The stock has a 52-week high of $102.73 and a 52-week low of $63.50.

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