T-Mobile (TMUS) is expected to see "strong" near-term subscriber growth compared with peers, and "unlock value" from the recent USM acquisition, RBC Capital said in a note Tuesday.

T-Mobile is outpacing peers in customer gains, driven by an $800 offer for switchers and new "no trade-in" iPhone promotions, the report said, citing channel checks.

Despite a broader slowdown in subscriber growth, RBC said it believes T-Mobile remains "well-positioned" amid elevated churn. The firm also cited rising demand for T-Mobile's Direct-to-Cell and T-Satellite services, launched on July 23, along with growing enterprise momentum from SuperMobile and T-Priority initiatives.

The firm upgraded its rating on the stock to outperform from sector perform and maintained its $270 price target.

Shares of T-Mobile were up 1.6% in recent trading.

Price: 228.69, Change: +3.63, Percent Change: +1.61