此外，他们指出T-Mobile US的股价虽然已多年表现优异，但其在品牌、客户服务和网络领导层的优势，以及传统收入流的稳固性，被看作是支撑其未来行业领先地位增长的关键因素。Morgan Stanley gives AT&T and T-Mobile US a "Shareholding" rating, while downgrading Comcast's rating to "Hold".
Zhitong Financial APP learned that Morgan Stanley began a significant adjustment of the USA telecommunications industry on Monday, giving AT&T (T.US) and T-Mobile US (TMUS.US) a "Shareholding" rating, while downgrading Comcast (CMCSA.US) to "Hold". This rating adjustment is mainly based on the growth potential and market performance of the companies. AT&T, with its leading advantage in fiber products, and T-Mobile US, with its significant advantage in wireless products, are seen as likely to achieve excellent performance.
Morgan Stanley analysts further pointed out in their research report on December 16 that AT&T's risk/reward is the most attractive, with significant upside potential in its stock price, which has an 18% upward space compared to the Target Price of $28, and even more, a 40% upward space under bullish predictions, while under bearish projections, there is only a 10% downside risk.
In addition, they noted that although T-Mobile US's stock price has performed well for many years, its advantages in brand, customer service, and network leadership, along with the stability of traditional revenue streams, are seen as key factors supporting its future industry-leading growth.
However, Morgan Stanley analysts have a cautious outlook on the cable television industry's prospects, predicting that cable television will face dual challenges of broadband trends and EBITDA growth by 2025. Therefore, they downgraded the rating of media and cable giant Comcast from "Shareholding" to "Hold" and predicted that its Residence broadband customer loss will continue until 2027.
Additionally, Comcast's wireless business expansion is slower compared to its competitor Charter Communications (CHTR.US), which is more aggressive in promoting, marketing, and bundling Spectrum mobile services. In response, Morgan Stanley holds a "Hold" attitude towards Charter Communications.