In a report released yesterday, Gregory Williams from TD Cowen maintained a Buy rating on Verizon, with a price target of $51.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Gregory Williams has given his Buy rating due to a combination of factors that highlight Verizon’s potential for future growth. The company’s recent third-quarter results exceeded expectations, particularly in terms of phone additions and financial metrics like EBITDA and free cash flow. This performance, coupled with the new CEO’s confidence in turning the company around without drastic measures, suggests that Verizon is poised for a positive trajectory.
Moreover, the CEO’s insights during the earnings call emphasized a commitment to maintaining a secure dividend and achieving sustainable growth in consumer wireless subscribers without resorting to aggressive pricing strategies. While there are challenges such as intense competition and the need for margin expansion, management’s focus on leveraging AI, reducing churn, and rationalizing products offers a promising outlook. The overall optimistic tone and strategic direction under the new leadership underpin the Buy rating, reflecting a belief in Verizon’s ability to navigate its current challenges and capitalize on its strengths.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $44.00 price target.