2024-01-30 10:03:34 ET
Summary
- VZ faces intense competition, impacting its ability to monetize significant 5G investments.
- Our decision to upgrade VZ's rating from Hold to Buy is influenced primarily by macroeconomic factors, particularly expected Federal Reserve rate cuts.
- The sector's seemingly strategic alignment and collective price increase further support our rating upgrade.
- Going into 2024, we expect continued momentum established in Q4 2023.
Investment Thesis
In our previous analysis , we expressed concerns about Verizon ( VZ ), highlighting its struggles to monetize the substantial capital investments in its 5G network and the intense competition from AT&T ( T ) and T-Mobile ( TMUS )...
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Verizon: Extending Olive Branch To Peers Could Mean Gains (Rating Upgrade)