Telephone and Data Systems (NYSE:TDS) Sets New 52-Week Low - Here's Why

Telephone and Data Systems (NYSE:TDS) shares recently hit a new 52-week low of $32.94, trading below its previous close of $33.58. The stock has a "Hold" rating from analysts with an average price target of $53.33, despite recent rating cuts from Weiss Ratings and Raymond James. The company reported strong quarterly earnings of $1.11 per share, beating estimates, and its revenue increased by 6.5% year over year.