Analysts Remain Divided On Verizon Post Q4 Results

  • Analysts had mixed views on Verizon Communications Inc VZ post Q4 earnings.
  • Deutsche Bank analyst Bryan Kraft raised the price target on Verizon to $59 from $57 (15% upside) and reiterated a Hold rating on the shares. 
  • The analyst sees about 8% upside in the stock over the next 12 months, with the target increasing on higher out year free cash flow estimates, notwithstanding the reduction to his 2022 estimate due to a pull forward in C-Band Capex from 2023, higher working capital usage, and higher cash taxes.
  • Related Content: Verizon Q4 Earnings Beat Consensus; Sees FY22 EPS Above Expectations
  • JPMorgan analyst Philip Cusick downgraded Verizon to Neutral from Overweight with a price target of $56, down from $62 (9% upside). 
  • The wireless industry could see a slowdown in postpaid phone growth in 2022, and beyond with the potential for increased wireless competition from AT&T Inc TT-Mobile US Inc TMUSDISH Network Corp DISH, and cable companies, Cusick contended.
  • Price Action: VZ shares traded lower by 2.77% at $51.44 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsDowngradesPrice TargetReiterationAnalyst RatingsTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!