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Business

Anusuya Lahiri

Analysts Remain Divided On Verizon Post Q4 Results

Verizon Nasdaq NYSE Dish VZ Philip Cusick Deutsche Bank DISH Network Corp JPMorgan TMUS

Analysts had mixed views on Verizon Communications Inc (NYSE: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 (NYSE:T), T-Mobile US Inc (NASDAQ:TMUS), DISH Network Corp (NASDAQ:DISH), and cable companies, Cusick contended.
Price Action: VZ shares traded lower by 2.77% at $51.44 on the last check Wednesday.

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