Verizon Faces Some Competitive Threats, BTIG Says
Wireless pressures mean even though Verizon’s stock price could pop up from its current $46.20, now is not the time to buy the carrier's shares, BTIG analyst Walter Piecyk wrote Tuesday. Piecyk said he remains neutral on Verizon. If Sprint…
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manages to buy T-Mobile, that could be a catalyst to raise Verizon’s stock price, but a deal isn’t assured, he said. “Threat of a new, well-funded entrant into the wireless industry cannot be ignored,” Piecyk said. “Last week, Crown Castle CEO Jay Brown acknowledged that Crown had been conducting tests with large technology companies on a wide range of spectrum, including mid-band” (see 1705260043). Verizon’s densification focus, putting money into small cells throughout its network, is also driving up its costs, the analyst said.