Goldman Sachs upgrades stumbling Verizon and Charter shares: 'The pipes are not broken' [CNBC]
Verizon Communications Inc. (VZ)
Last verizon communications inc. earnings: 4/24 07:30 am
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Source: CNBC
Goldman Sachs upgraded Verizon and Charter Communications to buy from neutral, believing the broadband providers have been unfairly punished as other telecommunications giants pursue costly acquisitions. We believe that broad underperformance across the sector has been driven by a few key factors, including concerns about fundamental headwinds, M&A uncertainty and rising interest rates, the Goldman note stated. At a higher level, we believe the pursuit of vertically integrated business models (via levered M&A) by some operators has caused investors to question whether large cap stocks in the telecom and cable sector can outperform while the industry is undergoing such significant transformation. Verizon and Charter are down 9 percent and 14 percent respectively this year amid a judge's approval of AT&T 's blockbuster deal for Time Warner and a bidding war for certain Twenty-First Century Fox assets between Disney and Comcast . Comcast and AT&T stocks a
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VZ
Earnings
- 1/23/24 - Beat
VZ
Sec Filings
- 4/16/24 - Form PX14A6G
- 4/15/24 - Form 4
- 4/15/24 - Form 4
- VZ's page on the SEC website