In a report released today, Zachary Silver from B.Riley FBR maintained a Buy rating on Telephone & Data Systems Inc (TDS), with a price target of $42. The company’s shares opened today at $34.20, close to its 52-week high of $35.
Silver said:
“We update estimates for Systems (TDS—Buy, $42 PT) after the company’s 3Q18 earnings report. Our TDS price target moves up from $38 to $42, prompted by a $5 hike to our U.S. Cellular (USM—Neutral, $53 PT) price target to $53. As a reminder, we value TDS as a SOTP that is driven mainly by the equity’s 83% controlling stake in U.S. Cellular (for more on USM, please see our 3Q18 update here). With TDS trading at a 27% discount to the market value of its 71M shares of USM, over 400 bps above the three-year average, and a full 15% above levels it has traded at when actively buying back stock, we continue to see TDS offering a compelling entry point at current levels, and a lower-risk, higher-reward way to play USM.”
According to TipRanks.com, Silver is a 3-star analyst with an average return of 10.8% and a 83.3% success rate. Silver covers the Technology sector, focusing on stocks such as Shenandoah Telecommunications Co, United States Cellular, and Wideopenwest Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Telephone & Data Systems Inc with a $39 average price target, which is a 14.0% upside from current levels. In a report released today, Raymond James also maintained a Buy rating on the stock with a $36 price target.
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The company has a one-year high of $35 and a one-year low of $23.54. Currently, Telephone & Data Systems Inc has an average volume of 750.2K.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.
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Telephone & Data Systems, Inc. engages in the provision of wire line and cable broadband, video and voice services. It operates through the following segments: U.S. Cellular, Wireline, Cable, Hosted and Managed Services, and Corporate, Eliminations and Other. The U.S. Cellular segment provides wireless telecommunications services to the customers.
