Analysts had mixed views on Verizon Communications Inc. post Q4 earnings. Deutsche Bank analyst Bryan Kraft raised the price target on Verizon to $59 from $57 (15 percent upside) and reiterated a Hold rating on the shares. The analyst sees about 8 percent upside in the stock over the next 12 months, with the target increasing on higher out…
Verizon Q4 Earnings Beat Consensus; Sees FY22 EPS Above Expectations
Verizon Communications Inc. reported a fourth-quarter FY21 sales decline of 1.8 percent year-on-year, to $34.1 billion, beating the consensus of $33.9 billion. Adjusted EPS of $1.31 beat the consensus of $1.29. Total Verizon Consumer revenue grew 7.4 percent Y/Y to $25.7 billion, driven by strong demand for its higher-tier premium mobility and broadband offerings. Consumer wireless service…
Here’s Why Tigress Financial Remains Bullish on Verizon
Tigress Financial analyst Ivan Feinseth raised the price target on Verizon Communications Inc. to $68 from $67 and reiterated a Buy rating on the shares. The price target implies an upside of 27 percent. The analyst believes accelerating momentum in wireless and broadband will drive further share price gains for the company. Verizon continues to benefit from the ongoing…
Verizon and AT&T Agree to Delay 5G Rollout After Previously Rejecting Regulators’ Request
Verizon and AT&T said on Monday that they have voluntarily agreed to further delay the rollout of their next-generation 5G wireless technology at the request of U.S. Transportation Secretary Pete Buttigieg. The agreement comes after both companies on Sunday rejected a request by the government to delay rolling out their 5G services but instead offered to expand so-called “exclusion…
Verizon and AT&T Reject Request From Regulators to Further Delay 5G Rollout
Verizon and AT&T on Sunday rejected a request by the U.S. government to delay rolling out its next-generation 5G wireless technology but offered to expand so-called “exclusion zones” for six months. The rejection comes amid an ongoing dispute over fears that the use of C-Band spectrum for 5G wireless services could interfere with sensitive aircraft electronics such as radio altimeters, which…
Colorado Authorities Reveal Possible Cause of Destructive Wildfire
Authorities in Boulder County, Colorado, haven’t ruled out arson as a possible cause of a wildfire that destroyed hundreds of homes last week. “We have a number of tips we’re working on,” Boulder County Sheriff Joe Pelle said. “We’ve executed a search warrant at one particular location we’re investigating.” Earlier, Pelle and other officials said…
Verizon Signs up Google Cloud to Automate Factories
STOCKHOLM—Verizon Communications on Thursday signed a deal with Alphabet Inc.’s Google Cloud to use its 5G network and the tech firm’s computing power to offer services such as autonomous robots and smart factories. Telecom companies have been partnering with technology firms to automate businesses and factories to lower costs and speed up data traffic through…
AT&T, Verizon Agree to New Precautions to Address 5G Air Safety Concerns
WASHINGTON—AT&T and Verizon Communications on Wednesday agreed to adopt new precautionary measures to address air safety concerns raised from the planned use of C-Band spectrum for 5G wireless. The Federal Aviation Administration (FAA) and the aviation industry have raised concerns about potential interference caused by the 5G deployment with sensitive aircraft electronics like radio altimeters….
US FCC Approves Verizon Acquisition of TracFone Wireless
WASHINGTON—The U.S. Federal Communications Commission said on Monday it has approved Verizon Communications Inc.’s more than $6 billion acquisition of pre-paid mobile phones provider TracFone Wireless with conditions to protect low-income consumers. The FCC’s announcement followed the California Public Utilities Commission’s approval of the deal last Thursday after Verizon agreed to additional consumer-protection conditions. Verizon…
California Approves Verizon Deal to Acquire TracFone Wireless
November 20, 2021
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WASHINGTON—The California Public Utilities Commission said Thursday it has approved Verizon Communications’ more than $6 billion proposed acquisition of TracFone Wireless after the companies agreed to some additional consumer protection conditions. Under the agreement with the California regulator, TracFone or Verizon must participate in a U.S. program providing subsidized wireless service for low-income consumers for…
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