All The Sell-Side Sentiment On Verizon Following Q3 Results

Here is a summary of what some of Wall Street's top analysts are saying following the earnings report.

Pacific Crest: Competitive Pressures In Focus

Michael Bowen of Pacific Crest commented in a research report that Verizon's woes stem from top-line pressure, incremental churn and lower-than-expected postpaid phone additions.

Bowen noted that the pressure facing Verizon will continue and the company has low prospects to accelerate growth in the coming year.

Shares of Verizon remain Sector Weight with no assigned price target.

Related Link: Verizon Shares Dip Following Mixed Q3 Results

Jefferies: Q3 Confirms Heightened Competition

Mike McCormack of Jefferies commented in a research report that Verizon's third-quarter earnings print confirms the ongoing heightened wireless competition, which is expected to continue into the fourth quarter and beyond.

Verizon's quarter was also impacted by unlimited offering packages from its competitors which weighed on its subscriber addition data.

Given the ongoing strategic uncertainty and relative valuation, the analyst maintained a Hold rating with an unchanged $53 price target.

Goldman Sachs: Positive Trends Aren't Enough

Brett Feldman of Goldman Sachs commented in a research report that there were some positive data sets in Verizon's earnings report. Specifically, a better than expected ARPA (average revenue per account), a higher smartphone mix and a reduced headwind from a shift to non-subsidized pricing.

However, the few positive data points in the quarter isn't sufficient to offset the tougher wireless competition affecting the entire industry.

Shares remain Neutral rated with a price target lowered to $51 from a previous $53.

Morgan Stanley: Inorganic Story Is Positive

Simon Flannery of Morgan Stanley commented in a research report that Verizon's third quarter was a "mixed bag" and certainly points to the ongoing competitive pressures affecting the entire industry.

However, the analyst highlighted Verizon's "inorganic story," which is "active" and includes the pending acquisition of XO Communications, Fleetmatics and Yahoo which will target growth areas including 5G, the Internet of Things and adtech.

Shares remain Overweight rated with an unchanged $60 price target. At last check, Verizon was down 2.1 percent at $48.11.

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