Citi upgrades Verizon and AT&T, says companies can support their nearly 8% dividend yields

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

Analyst Michael Rollins upgraded telecommunication giants Verizon and AT&T to buy, and assigned price targets indicating higher upsides for both companies.

Telecommunication giants AT & T and Verizon are turning a corner that will make it easier for both companies to maintain their high dividend yields, according to Citi. Analyst Michael Rollins upgraded Verizon and AT & T to buy. He maintained his target price for AT & T at $17 and raised his target price for Verizon by $1 to $40, suggesting shares stand to gain 19.6% and 19.2%, respectively, from where they closed on Monday.

He also pointed to AT & T's and Verizon's recently introduced round of targeted price increases for existing customers as an indicator of stabilizing wireless competitive landscape. Longer device holding periods from customers are also reducing upgrade costs, he added. On top of that, both stocks are trading at historically low valuations after this year's declines. Verizon is down nearly 15%, while AT & T has lost 22.8%.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 12. in SA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين