T-Mobile US, Inc. (NASDAQ: TMUS) shares are trading slightly lower on Tuesday.
Citigroup analyst Michael Rollins maintained T-Mobile with a Buy, increasing the price forecast from $210 to $254.
Yesterday, the company and Miller Electric Company announced a collaboration to use a 5G private network to connect a fleet of autonomous vehicles (AVs) along the city's waterfront and urban core as part of Jacksonville's Ultimate Urban Circulator program.
Miller Electric in Jacksonville will use a 5G private network from T-Mobile's Advanced Network Solutions to support its new fully autonomous shuttles.
These shuttles will transport visitors along a 3-mile route from EverBank Stadium, home of the city's football team, to the new waterfront hub.
The T-Mobile 5G private network will provide secure and reliable communication between the shuttles and the command center.
This includes real-time data from onboard sensors and audio and video feeds to connect employees with passengers, all on the largest and fastest 5G network in the U.S.
Craig Bowman, the Director of Technology at Miller Electric, stated that the "turnkey" solution would allow the vehicles to navigate alongside other traffic while providing the necessary bandwidth for streaming real-time video surveillance and facilitating two-way audio and video communication between passengers and employees.
"5G is the key that will unlock the autonomous vehicle future that science fiction has teased us with for years," said Mishka Dehghan, SVP, Strategy, Product, and Solutions Engineering, T-Mobile Business Group.
The shuttles are expected to be operational by mid-2025 and will be the first of three phases in the city's Ultimate Urban Circulator plan. This phase will set the groundwork for expanding automated shuttles to nearby neighborhoods.
T-Mobile is expected to report earnings this week.
Analysts expect T-Mobile to report revenue of $20 billion and EPS of $2.42. While reporting its recent quarterly results, T-Mobile raised guidance for its 2024 postpaid net customer growth.
Price Action: TMUS shares are trading lower by 0.83% to $220.93 at last check Tuesday.