Analysts Remain Divided on Verizon Post Q4 Results

Analysts Remain Divided on Verizon Post Q4 Results
A logo sits illuminated outside the Verizon pavilion, during the Mobile World Congress 2017 in Barcelona, on Feb. 27, 2017. (David Ramos/Getty Images)

Analysts had mixed views on Verizon Communications Inc. post Q4 earnings.

Deutsche Bank analyst Bryan Kraft raised the price target on Verizon to $59 from $57 (15 percent upside) and reiterated a Hold rating on the shares.

The analyst sees about 8 percent 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.

JPMorgan analyst Philip Cusick downgraded Verizon to Neutral from Overweight with a price target of $56, down from $62 (9 percent 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., T-Mobile US Inc., DISH Network Corp., and cable companies, Cusick contended.

By Anusuya Lahiri
© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.