In a report issued Monday, analysts at Baird shared a preview of second quarter results for connected technology companies. Consistent with the trends seen recently, the experts anticipate robust growth among cable companies, and mixed results for telecoms, as T-Mobile US Inc TMUS continues to increase its wireless market share.
In addition, Baird continues to favor Comcast Corporation CMCSA among the service providers it covers. However, the experts acknowledge AT&T Inc. T and Verizon Communications Inc. VZ offer attractive dividend yields and cash flows, especially taking into account the current market/yield environment.
Baird envisions sustained weakness in smartphone upgrade rates, “directionally negative for smartphone providers,” even for Apple Inc. AAPL.
Baird maintains the following ratings and price targets:
- Charter Communications, Inc. - Class A CHTR, Neutral, $230
- Comcast, Outperform, $67
- Sprint Corp S, Neutral, $3
- AT&T, Neutral $41
- T-Mobile, Neutral, $42
- Verizon, Neutral, $54
Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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