14 Best 52-Week High Stocks To Buy According to Analysts

3. Telephone and Data Systems Inc. (NYSE:TDS)

52 Week Range: $13.69 – $35.39

Current Share Price: $34.33

Stock Upside Potential: 57.62%

Number of Hedge Fund Holders: 31

Telephone and Data Systems Inc. (NYSE:TDS) is a communication services company that offers wireless solutions to consumers, business and government customers. It offers a suite of connected Internet of Things (IoT) solutions and software applications. The stock soared to 52-week highs in 2024 after rallying by about 81%. The rally to record highs came as Wall Street reacted to strong growth in the company’s residential broadband connections and healthy tractions in its fixed wireless portfolio.

Fibre networks across total service addresses stood at 49% in the third quarter and are on course to reach 60% owing to strong demand. Likewise, Telephone and Data Systems Inc.’s (NYSE:TDS) residential broadband connections reached 115,300, up from 79,400 a year ago. Telephone and Data Systems is already reaping the benefits of fiber broadband investment made in the past couple of years, which is boosting revenues and profitability.

Management focusing on cost optimization to drive profitability has also helped bolster the stock’s sentiments. Alongside these advancements, TDS US Cellular is working to reach 1.2 million marketable fiber addresses by growing its fiber network. Along with a national 5G partner, Telephone and Data Systems Inc. (NYSE:TDS) is getting ready to launch an MVNO.