Telecom stocks such as T-Mobile, AT&T, and Verizon receive Buy calls

Wireless and telecom giants T-Mobile US (NASDAQ:TMUS), AT&T (NYSE:T), and Verizon Communications (NYSE:VZ) each received buy calls from Oppenheimer Asset Management on Wednesday morning as the asset manager forecasts market upside for the group.

See what Oppenheimer Asset Management had to say about T-Mobile US, AT&T, and Verizon Communications below:

T-Mobile US: “TMUS remains our top idea for exposure to the Telecom industry based on its high-momentum score. We see $198 as near-term support (50-day average) and little identifiable resistance.”

AT&T: “For T, a period of near-term consolidation should allow overbought excesses to recede ahead of a resumption of the stock’s uptrend, in our view. We see $20.50 as support (50-day average) and $23.50 as resistance (May 2021 gap).”

Verizon Communications: “VZ’s September breakout above its January 2023 peak completed a multi-year bottoming pattern, based on our work. The breakout point at $42 is now support and we see upside into $49 marking the convergence of the stock’s July 2022 gap and the 62% retracement of its decline since 2020.”

Year-to-date price action: TMUS +31.5%, T +30.2%, and VZ +16.6%.

For investors searching for broader exposure to the telecom space, they can monitor many exchange traded funds that offer the financial community exposure to the space. Some funds worth noting are as follows: (VOX), (FCOM), (IYZ), (IXP), (XTL), and (RSPC).