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Oct 12, 7:45 PM
Verizon shares rebounded as investors bought the dip following a nearly 9% plunge on Oct. 9 after SpaceX announced an agreement to acquire a nationwide portfolio of 800 MHz low-band spectrum licenses from Grain Management, raising concerns that Starlink could eventually become a direct competitor in the U.S. wireless market. Analysts argued the selloff overstated the near-term threat. Arete Research reiterated its Buy rating with a
$62 price target, the highest on Wall Street, implying approximately 49% upside from Friday’s close. Verizon trades at around 8x forward earnings versus a sector average above 12x, while free cash flow rose nearly 24% last quarter and management raised its full-year EPS guidance to
$4.99–
$5.04.
Verizon also expanded its 6G Innovation Forum to include Amazon Web Services, Cisco and Intel, reinforcing its commitment to next-generation networks.
$VZ
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