Deutsche Bank downgrades T-Mobile because of price competition on now widespread unlimited plans

Deutsche Bank lowered its rating on T-Mobile shares to hold from buy, citing a more difficult competitive market due to the expansion of unlimited wireless plan offerings.

"We still expect TMUS to exceed its postpaid net add guidance and meet 2017 EBITDA targets; but, we think pricing sees increasing pressure going forward, and expect slowing service revenue growth ahead," analyst Matthew Niknam wrote in a note to clients Wednesday. "Net net, we think current consensus estimates and stock price incorporate many of the positive catalysts we've previously outlined, while underestimating downside risks."