Verizon stock gains after Deutsche Bank upgrades to buy on wireless fundamentals

Discussion in 'Market News' started by sniper-academy, Jun 19, 2018.


Draft saved Draft deleted
  1. sniper-academy

    sniper-academy Administrator Staff Member

    Joined:
    Sep 30, 2011
    Messages:
    251,652
    Likes Received:
    5
    Shares of Verizon Communications Inc. are up 0.5% in premarket trading after Deutsche Bank analyst Matthew Niknam upgraded the stock to buy from hold. "We expect Verizon's 2Q18 results to reflect a return to (normalized) service revenue growth (yoy), for the first time since late 2014, as well as continued margin improvement," Niknam wrote. "These are all meaningful for Verizon, the industry's largest player deriving nearly 90% of EBITDA from wireless." Though his optimism mainly stems from the wireless business, Niknam sees potential upside from Verizon's 5G and Oath efforts. He wrote that Oath only has about a 4% share of the digital advertising market, while Verizon is "investing aggressively toward an early leadership position" in 5G technology. Also on Tuesday, a J.P. Morgan analyst said he preferred Verizon's stock to AT&T Inc.'s . Shares of Verizon are up 1.9% over the past 12 months, while the Dow Jones Industrial Average has gained 16%.

    Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

    [​IMG]
    [​IMG] [​IMG] [​IMG] [​IMG]

    Continue reading...
     
Loading...

Share This Page