NEW YORK (TheStreet) -- Shares of T-Mobile US (TMUS) - Get Report are up 1.21% to $33.25 in early morning trading Thursday after Jefferies increased its price target to $38 from $37, while maintaining its "buy" rating following the announcement of its new "Un-carrier" plans. 

"We view the Un-carrier 9.0 announcements, Un-carrier for Business, an updated Carrier Freedom switching offer, and the Un-contract pricing guarantee as providing incremental upside with little downside cannibalization risk," analysts said, adding that T-Mobile's new Un-carrier business plans seem geared primarily towards small and medium business (SMB) customers seeking discounted pricing. 

With phone plans for businesses being revised with simpler price structure, T-Mobile is making plans with multiple lines that will cost $15. Clients that have 1,000 lines or more can pay $10.

In addition, each line comes with one gigabyte of data and unlimited voice minutes and text messages. 

"What we're doing has never been done," said Mike Sievert, T-Mobile's head of operations, in an interview with the New York Times. "We put our rate card out there and it's a no-negotiation deal. Our best deal is our only deal."

T-Mobile is also promising allotted-data customers that it will not raise their rates during their time as customers, and it will also not raise pricing for unlimited-data customers for at least two years.

"We see Un-contract as a marketing tool, consumer pricing has been declining for some time, and an implicit admission that the company must rationally price its Unlimited offer to generate free cash flow," Jefferies said.

Separately, TheStreet Ratings team rates T-MOBILE US INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate T-MOBILE US INC (TMUS) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and robust revenue growth. However, as a counter to these strengths, we also find weaknesses including relatively poor performance when compared with the S&P 500 during the past year and generally higher debt management risk."

You can view the full analysis from the report here: TMUS Ratings Report

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