Morgan Stanley Maintains Equal-Weight Rating for Telephone and Data: Here's What You Need To Know

Morgan Stanley has decided to maintain its Equal-Weight rating of Telephone and Data TDS and lower its price target from $22.00 to $16.00.

Shares of Telephone and Data are trading down 9.11% over the last 24 hours, at $12.17 per share.

A move to $16.00 would account for a 31.47% increase from the current share price.

About Telephone and Data

Telephone and Data Systems Inc is a diversified telecommunications operator that provides mobile, telephone, and broadband services to approximately 6 million customers. The firm's mobile operations are conducted by its 81%-owned subsidiary, U.S. Cellular, which serves nearly 5 million wireless customers. The firm's wireline operations are conducted by its wholly owned subsidiary, TDS Telecom, which services nearly 1 million phone and Internet access lines in predominantly rural and suburban areas.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.