Following T-Mobile CFO Braxton Carter's presentation at the firm's conference yesterday, Morgan Stanley analyst Simon Flannery said he expects T-Mobile will announce a "major" increase in its stock repurchase program with its Q1 earnings report in early May. He thinks the company could announce a total three year buyback of $7.5B-$12B, including $1.5B already underway, which he notes would be equivalent to 14%-22% of the current market cap. The market was "underwhelmed" by the original $1.5B repurchase program and absent an update he thinks the stock could trade below $60. However, he thinks the stock could trade closer to $70 if the buyback is near $12B, or significant enough to reduce the float by more than 50%. Flannery maintains an Overweight rating and $74 price target on T-Mobile shares.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here