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.

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