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Baird Shares Outlook On Telecom & Cable

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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 (NASDAQ: TMUS) continues to increase its wireless market share.

In addition, Baird continues to favor Comcast Corporation (NASDAQ: CMCSA) among the service providers it covers. However, the experts acknowledge AT&T Inc. (NYSE: T) and Verizon Communications Inc. (NYSE: 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. (NASDAQ: AAPL).

Baird maintains the following ratings and price targets:

  • Charter Communications, Inc. - Class A (NASDAQ: CHTR), Neutral, $230
  • Comcast, Outperform, $67
  • Sprint Corp (NYSE: 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.

Latest Ratings for CHTR

DateFirmActionFromTo
Aug 2019Initiates Coverage OnHold
Jul 2019MaintainsNeutral
Jul 2019MaintainsStrong Buy

View More Analyst Ratings for CHTR
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Posted-In: BairdAnalyst Color Previews Reiteration Analyst Ratings Tech Trading Ideas

 

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