Hudson Square Research Reiterates Rating on Verizon Following Vodafone Acquisition Announcement
In a report published Tuesday, Hudson Square Research analyst Todd Rethemeier reiterated a Hold rating on Verizon Communications (NYSE: VZ).
In the report, Hudson Square Research noted, “After several days / years of speculation, Verizon and Vodafone made it official yesterday, announcing a deal for Verizon to acquire Vodafone's 45% stake in Verizon Wireless for $130B. While the transaction will be accretive to Verizon, it is not enough to change our opinion on the stock and we maintain our Hold rating. We also question Verizon's decision to double down on the US wireless industry at a time when smartphone penetration is maturing and competition is heating up.”
Verizon Communications closed on Friday at $47.38.
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