2024-03-16 08:34:44 ET
Summary
- Verizon's stock has seen a total return of 21.45% since my first "Buy" call last year, outperforming the broad market.
- Q4 FY2023 results show revenue growth exceeding expectations, driven by wireless service revenue and postpaid phone net additions.
- I think VZ's free cash flow will remain stable over the next 2 years. I explain why.
- The VZ stock is undervalued by 23.8% today according to my conservative DCF model.
- I reiterated my previous "Buy" rating for Verizon stock today.
Intro & Thesis
In the middle of last year, I initiated my coverage of Verizon Communications ( VZ ) stock with a 'Buy' rating at $34 per share. The stock's total return since then went up to 21.45%, outperforming the broader market....
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For further details see:
Verizon: It's Just The Beginning