Goldman bullish on top 3 U.S. telecoms on strong wireless backdrop; AT&T named favorite

“We expect upside to the Street for 3Q postpaid phone net additions, with an uptick to 2024 guidance. We think short-term investors have turned more bearish on the stock, while longer-term investors are looking through the company’s 2025 guidance (driven by lower wholesale revenue) and are focused on service revenue and EBITDA growth acceleration exiting 2025. We believe the company’s 2% annual postpaid APRA guide underwrites our view that competition in the wireless industry is improving,” Goldman said on TMUS.

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