On July 28, T-Mobile US rose 3.35% in regular trading, trading at $185.17/share with turnover of $165 million, recovering from a 7.8% decline earlier last week following its Q2 earnings release.

T-Mobile reported Q2 EPS of $2.99, beating the analyst consensus estimate of $2.58 by approximately 16%, while revenue of $22.79 billion slightly missed the $22.94 billion estimate. The company raised its full-year adjusted free cash flow guidance to $18.4-$18.8 billion from the prior $18.1 billion range, citing strong customer migration to premium Experience plans and a net income of $3.2 billion for the quarter.

Despite initial selling pressure, multiple Wall Street firms maintained bullish stances. Deutsche Bank kept its Buy rating with a $250 target, Scotiabank maintained Sector Outperform at $232, Benchmark held Buy at $280, and Morgan Stanley reiterated T-Mobile as its top wireless pick. The consensus mean price target stands at $242.52, representing significant upside from current levels, which appears to be supporting the recovery in shares.

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