Verizon: The 'Tiffany Network' Tarnished, Says Argus
Barrons.com Barrons.comApril 21, 2017
Shares of Verizon Communications (VZ) are down 69 cents, or 1.4%, at $47.72, after Argus Research’s Joseph Bonner cut his rating on the shares to Hold from Buy, a day after the company’s Q1 results disappointed investors on a slowdown in the number of wireless customers it added, writing that the company is losing its teflon invulnerability. The outlook for the company is “challenging,” writes Bonner, given that the subscriber losses show Verizon is “facing increased pressure to defend its 'Tiffany Network' status amid intense wireless industry competition on price, data usage, and network connectivity.