Telephone and Data Systems

TDS · NYSE

$34.07+$0.81 (+2.44%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $33.26

TDS analyst rating

BuyConsensus of 3 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy2
Hold1
Underperform0
Sell0

12-month price target · 4 analysts

Average $47.94 (+40.7% upside)

Low: $47.47
Now: $34.07
High: $49.35

Upgrades and downgrades

The latest rating actions, newest first

TDS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Aug 19, 2026	Maintains	Overweight	$51.00 → $48.00	46%
Citigroup	Aug 13, 2026	Maintains	Buy	$50.00 → $47.00	59%
Raymond James	May 11, 2026	Downgrade	Outperform → Market Perform	—	43%
Citigroup	Feb 23, 2026	Maintains	Buy	$51.00 → $56.00	59%
Citigroup	Jan 7, 2026	Maintains	Buy	$45.00 → $51.00	59%
Citigroup	Nov 26, 2025	Initiates	Buy	$45.00	59%

The case for and against

Updated Feb 2, 2026

Bull case

Telephone and Data Systems Inc shows strong growth potential driven primarily by its UScellular Wireless segment, which is the largest revenue contributor. The company's investment in expanding its telecommunications infrastructure is expected to enhance service quality and customer acquisition, resulting in increased market share. Additionally, with diversification across multiple segments including UScellular Towers and TDS Telecom, the company is well-positioned to mitigate risks and capitalize on emerging market opportunities.

Bear case

Telephone and Data Systems Inc. (TDS) relies heavily on its Array Digital Infrastructure unit for a significant portion of its consolidated revenues and EBITDA, and any weakness in this segment poses a direct risk to the company's overall financial health. The company faces considerable challenges from competitive pressures in the wireline telecom sector, as well as the complexities related to executing its fiber buildout program, which could impair its growth potential. Additionally, uncertainties surrounding industry fundamentals, market conditions, and the company's capital structure further contribute to the difficulties in accurately valuing TDS and raise concerns over its long-term earnings prospects.

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