Fintel reports that on August 8, 2023, JP Morgan upgraded their outlook for United States Cellular (NYSE:USM) from Neutral to Overweight .
Analyst Price Forecast Suggests 24.95% Downside
As of August 2, 2023, the average one-year price target for United States Cellular is 23.46. The forecasts range from a low of 16.16 to a high of $28.35. The average price target represents a decrease of 24.95% from its latest reported closing price of 31.26.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for United States Cellular is 4,263MM, an increase of 4.64%. The projected annual non-GAAP EPS is 0.96.
What is the Fund Sentiment?
There are 328 funds or institutions reporting positions in United States Cellular. This is an increase of 5 owner(s) or 1.55% in the last quarter. Average portfolio weight of all funds dedicated to USM is 0.06%, a decrease of 19.86%. Total shares owned by institutions increased in the last three months by 6.23% to 17,458K shares. 
The put/call ratio of USM is 3.27, indicating a bearish outlook.
What are Other Shareholders Doing?
Gamco Investors, Inc. Et Al holds 1,258K shares representing 1.48% ownership of the company. In it's prior filing, the firm reported owning 1,208K shares, representing an increase of 4.00%. The firm increased its portfolio allocation in USM by 3.61% over the last quarter.
Private Management Group holds 1,124K shares representing 1.32% ownership of the company. In it's prior filing, the firm reported owning 1,084K shares, representing an increase of 3.55%. The firm decreased its portfolio allocation in USM by 16.91% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 738K shares representing 0.87% ownership of the company. In it's prior filing, the firm reported owning 845K shares, representing a decrease of 14.41%. The firm decreased its portfolio allocation in USM by 15.37% over the last quarter.
Gabelli Funds holds 668K shares representing 0.78% ownership of the company. In it's prior filing, the firm reported owning 708K shares, representing a decrease of 5.94%. The firm decreased its portfolio allocation in USM by 8.47% over the last quarter.
Jacobs Levy Equity Management holds 513K shares representing 0.60% ownership of the company. In it's prior filing, the firm reported owning 395K shares, representing an increase of 22.94%. The firm increased its portfolio allocation in USM by 16.88% over the last quarter.
United States Cellular Background Information
(This description is provided by the company.)
UScellular is the fourth-largest full-service wireless carrier in the United States, providing national network coverage and industry-leading innovations designed to elevate the customer experience. The Chicago-based carrier is building a stronger network with the latest 5G technology and offers a wide range of communication services that enhance consumers' lives, increase the competitiveness of local businesses and improve the efficiency of government operations.
Additional reading:
- UScellular reports second quarter 2023 results
- Telephone and Data Systems and UScellular Announce Exploration of Strategic Alternatives for UScellular
- Form of UScellular 2022 Long-Term Incentive Plan 2023 Performance Award Agreement.
- Form of UScellular 2022 Long-Term Incentive Plan 2023 Restricted Stock Unit Award Agreement.
- Addendum to Letter Agreement between UScellular and Laurent C. Therivel, is hereby incorporated by reference from Exhibit 10.1 to UScellular's Form 8-K filed on May 25, 2023.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
