UBS Likes T-Mobile, Is Cautious on Verizon
UBS rates T-Mobile as its top pick among the four major wireless carriers, analyst John Hodulik said Thursday in a note to investors. UBS maintains a buy rating on AT&T “given additional cost cutting opportunities associated with the DTV acquisition…
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and potential upside from the bundling strategy.” UBS has a hold rating on Verizon and Sprint. It said the ongoing strike is now expected to have an effect on Verizon’s results. “1Q provided more evidence of low volumes, low churn and record profits. 1Q earnings played out as expected,” Hodulik wrote. “Upgrade rates reached an all-time low, postpaid churn and gross adds continued to fall, and despite sluggish top line performance … profitability and margins reached a record high, topping the prior record set just two quarters ago.”