real-time news and commentary for investors
Thursday, Aug 22
Jefferies tech ratings round-up
- Jefferies reiterates its Buy rating on T-Mobile (TMUS +1.5%) and hikes the PT to $28 from $25. Analyst Thomas Seitz: Q2 "results were outstanding ... the disruptive 'Uncarrier' strategy likely has started yielding positive results." T-Mobile added 688K customers in the quarter, the first postpaid gain in 16 quarters.
- Seitz maintains a Hold rating on Boingo Wireless (WIFI -4.5%) and raises his PT to $7.50 from $6.50. Boingo "continued to further diversify its rev stream away from retail subscription & single-use segments & towards wholesale & advertising ... which gives us incrementally more confidence in the company's strategy."
- Analyst Cynthia Meng reiterates a Buy rating on China Telecom (CHA -0.7%) but lowers her PT to $60 from $64 on reduced expectations of FY 2013 and 2014 earnings (0.9% and 5% respectively) following the company's 1H results.