4 big analyst picks: T-Mobile upgraded to Outperform, shares gain

Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at T-Mobile US, Brown-Forman, Corning, and Principal Financial Group.

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T-Mobile shares gain on upgrade
T-Mobile US (NASDAQ:TMUS) shares rose nearly 3% yesterday after Wolfe Research upgraded the company to Outperform from Peerperform with a price target of $160.00, as InvestingPro reported in real time.

The firm has a positive outlook on the T-Mobile stock, despite its 21% decline year-to-date. This is primarily because they believe that the intrinsic value growth per share is expected to be strong.

According to the firm, while cable companies have been successful in attracting 45% of the industry’s new subscribers in 2023 through competitive pricing for postpaid phone services, T-Mobile’s pricing and value proposition make it the most favorable choice for the majority of new customers who purchase 3 or more lines per account.
Brown-Forman upgraded to In Line
Evercore ISI upgraded Brown-Forman (NYSE:BFb) to In Line from Underperform and raised its price target to $68.00 from $60.00, noting that the company has tremendous brand assets, a demonstrated record of patient and effective innovation, and a long growth runway, and deserves to trade at a substantial premium to the Staples sector.

The company reported an unexpected rise in Q4 revenues on Wednesday as consumer demand for premium items remains resilient despite inflationary pressures.

2 more upgrade
Corning (NYSE:GLW) shares rose more than 2% pre-market today after Morgan Stanley upgraded the company to Overweight from Equalweight and raised its price target to $38.00 from $35.00.

Keefe, Bruyette & Woods upgraded Principal Financial (NASDAQ:PFG) to Market Perform from Underperform with a price target of $75.00.