T-Mobile US Q3 Results: TD Cowen Maintains Buy Rating, Lowers Price Target to $263

TD Cowen has maintained a Buy rating on T-Mobile US, Inc. (TMUS) but lowered its price target to $263 from $291 after the company's Q3 2025 results, which included a minor EBITDA beat and solid performance in phone subscriber additions and fixed wireless access customer growth. Despite positive indicators, TD Cowen warns of growing competition in the wireless market and concerns over T-Mobile's EBITDA guidance increase.