<<<I own them, getting $5B in synergies this year
which will add to CF. JPM has them at 10% fcf yield in ‘24. Growing
nicely, will be buying up to $60B in stock by ‘26.>>>
I don't dispute those numbers. But as stock price react totally different with management's positive statement and numbers. Don't you wonder why? It is actually very similar to when LVLT merged with CTL. A positive synergy, FCF and many other positive news from the M&A, but stock price went south.
VZ and T will not let TMUS take their customers without a fight. Valuation is very high, if they unable to keep up subscription number growth, that will be the end. That is my concern.
Take a look of their institution ownership. Institutions investors are reducing their ownership, and the institution ownership are at very low percentage. Maybe this is another learning experience. And I also see many insiders are selling.. especial when you see Softbank sold 35% of their holding during 2Q of 2022.. If you made some good money from TMUS, sell some in the money call just in case upside doesn't come.