2024-04-14 14:25:06 ET
Summary
- VZ has had an impressive recovery in the stock prices since the October 2023 bottom, implying the bottomed market sentiments surrounding telecom stocks.
- Its dividend investment thesis remains robust, thanks to the promising FY2024 Free Cash Flow guidance with the peak 5G capex well behind us.
- VZ currently yields 6.62%, more compelling than the US Treasury, highlighting its still attractive dividend investment thesis.
- The management continues to drive growth across the mobile and fixed wireless segments, with 2024 likely to bring forth promising net adds.
- Despite so, readers may want to time their entry points upon a moderate pullback for an improved margin of safety, as certain overhang remains.
We previously covered Verizon Communications Inc. (NYSE: VZ ) in January 2024, re-rating it as a Buy, after falling for the classic bear trap. Even then, we believed that it was impossible to time the market, especially given the extreme pessimism then....
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For further details see:
Is Verizon A Buy After The +28% Rally?