Verizon Communications Analyst Turns Bullish, Expects Superior 2024 Performance Over T-Mobile, AT&T
Portfolio Pulse from Priya Nigam
Verizon Communications Inc. (VZ) received an upgrade from KeyBanc Capital Markets analyst Brandon Nispel, who changed the rating from Sector Weight to Overweight with a $45 price target. Nispel predicts Verizon will outperform T-Mobile (TMUS) and AT&T (T) in postpaid phone net additions in 2024. He also expects Verizon's Consumer Broadband business to see significant net adds in 2023 and 2024, driven by FiOS and 5G Home services. Verizon's EBITDA growth is projected to exceed 2% in 2024. The upgrade follows a merger between Dish Network (DISH) and EchoStar (SATS). Verizon shares rose 1.08% to $39.30 following the upgrade.
January 03, 2024 | 4:36 pm
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POSITIVE IMPACT
Verizon upgraded to Overweight by KeyBanc with a $45 price target, expected to outperform peers in postpaid net adds and EBITDA growth in 2024.
The upgrade by KeyBanc suggests a positive outlook for Verizon's future performance, particularly in comparison to its competitors. This is likely to instill confidence in investors and could lead to a short-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Dish Network's merger with EchoStar is mentioned in context but without specific impact on its stock.
The article mentions the merger between Dish Network and EchoStar but does not provide enough information to assess the short-term impact on Dish Network's stock price.
CONFIDENCE 50
IMPORTANCE 20
RELEVANCE 30
NEUTRAL IMPACT
EchoStar's merger with Dish Network is mentioned in context but without specific impact on its stock.
The article mentions the merger between EchoStar and Dish Network but does not provide enough information to assess the short-term impact on EchoStar's stock price.
CONFIDENCE 50
IMPORTANCE 20
RELEVANCE 30
NEGATIVE IMPACT
AT&T is projected to experience declines in postpaid phone net adds and Consumer Broadband net adds in 2023 and 2024, as per KeyBanc's forecast.
The analyst's expectations of AT&T's underperformance relative to Verizon could negatively influence investor perception and potentially lead to a short-term decrease in AT&T's stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
T-Mobile is expected to see declines in postpaid phone net adds in 2024, according to KeyBanc's analysis.
The negative comparison to Verizon's expected performance could potentially impact investor sentiment towards T-Mobile, possibly leading to a short-term dip in its stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70