- Raymond James analyst Frank G. Louthan maintained an Outperform rating on Verizon Communications Inc (NYSE:VZ) and cut the price target to $54 from $55 ahead of 3Q earnings.
- He believes investors value its consistently more straightforward story and longstanding network quality with a safe dividend yield and low leverage. He expects to remain a focus of differentiation in the coming quarters.
- Following recent commentary on the conference circuit and his conversations with management, he made slight adjustments ahead of 3Q22 earnings, likely for October 21.
- He expects slightly positive wireless adds between consumer post-pay and business and somewhat more muted FWA adds.
- He also adjusted interest expense to account for its 25% floating rate debt on the balance sheet and higher D&A as the C-Band spectrum moves onto the balance sheet and begins its depreciation. EPS is unchanged for 2022 but comes down slightly for 2023. He did not make any changes to the capex.
- He believes VZ, with its stable and, importantly, growing dividend is likely to hold in far better than other TMT names even if inflationary or geopolitical issues further impact the market.
- Also Read: Verizon Wins $1.6B Task Order To Modernize US Embassies
- Price Action: VZ shares traded lower by 3.31% at $38.09 on the last check Thursday.
Precipio’s Q4-2023 Cash Burn From Operations Drops Below $100K For The Full Quarter; Precipio’s End Of Quarter Cash Balance Changed From ~$1.5M At The End Of Q3-2024, To ~$1.4M As Of Dec 31, 2023
Specialty cancer diagnostics company Precipio, Inc. (NASDAQ:PRPO) announces that continued revenue growth generated cash levels that bring the company closer to breakeven. Cash Burn From Operations (CBFO) declined by
