icon
icon
icon
icon
Upgrade
icon

Oppenheimer has a "buy" rating for T-Mobile US (TMUS.US), AT&T (T.US), and Verizon (VZ.US)

AInvestThursday, Oct 10, 2024 3:12 am ET
1min read

Oppenheimer Asset Management Co. has given "buy" ratings to T-Mobile US (TMUS.US), AT&T (T.US) and Verizon (VZ.US) and expects significant upside in these stocks.

For T-Mobile US, Oppenheimer Asset Management Co. said: "Based on its high momentum score, T-Mobile US remains our top pick in the telecommunications sector. We see $198 as the near-term support for the stock (50-day moving average) with little identifiable resistance."

For AT&T, Oppenheimer Asset Management Co. said: "We believe the recent consolidation should dissipate the overbought condition in the stock before it resumes its uptrend. We see $20.50 as the support for the stock, and $23.50 as the resistance."

For Verizon, Oppenheimer Asset Management Co. said: "Based on our research, Verizon broke above its January 2023 peak in September, completing a multi-year bottoming pattern. $42 is the support for the stock, and we expect it to rise to $49."

T-Mobile US, AT&T and Verizon have risen 31.5%, 30.2% and 16.6% respectively year-to-date. For investors seeking broader exposure to the telecommunications sector, ETFs to watch include: Vanguard Communications Services ETF (VOX.US), Fidelity MSCI Telecommunication Services Index ETF (FCOM.US), iShares U.S. Telecommunication Services ETF (IYZ.US), iShares iShares Global Telecommunication ETF (IXP.US), SPDR S&P Telecommunication ETF (XTL.US), and Invesco S&P 500 Equal Weight Telecommunication Services ETF (RSPC.US).

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.