- 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 T, T-Mobile US Inc TMUS, DISH 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.
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