Canaccord Genuity on Telecom: Taking a More Defensive Approach
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Rating Summary:
26 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Canaccord Genuity on Telecom: Taking a More Defensive Approach
Subtle industry changes in volatile market
Analyst, Greg Miller, said, "With a series of seemingly minor data points over the past couple weeks, we believe it remains prudent for investors to adopt a more defensive approach to the US communications services sector until it is clear that enterprise recovery is taking hold and that the proliferation of iPhone distribution channels doesn’t cause carrier fundamentals to deteriorate. We continue to favor American Tower (NYSE: AMT)(Buy), Crown Castle (NYSE: CCI)(Buy), SBA Communications (Nasdaq: SBAC)(BUY) and Equinix (Nasdaq: EQIX)(BUY), and we even believe Verizon (NYSE: VZ)(HOLD) and AT&T (NYSE: T)(HOLD) offer investors a degree of safety with a stable dividend."
Sprint with the good and the bad
"Over the past few trading days, not only has Sprint (NYSE: S) announced that has it exercised an option to revoke the surrender of Clearwire (Nasdaq: CLWR) shares, but it has also been speculated that should Dish Networks (Nasdaq: DISH) do something with its wireless spectrum, it could work with Sprint to share network building costs. We continue to believe Sprint should be evaluated as if it were consolidated with Clearwire. Although potentially a positive event, we note that the creation of another wholesale provider of spectrum (Dish Networks) will only increase competitive pressures in the wireless market, although it would be positive for towers."
Subtle industry changes in volatile market
Analyst, Greg Miller, said, "With a series of seemingly minor data points over the past couple weeks, we believe it remains prudent for investors to adopt a more defensive approach to the US communications services sector until it is clear that enterprise recovery is taking hold and that the proliferation of iPhone distribution channels doesn’t cause carrier fundamentals to deteriorate. We continue to favor American Tower (NYSE: AMT)(Buy), Crown Castle (NYSE: CCI)(Buy), SBA Communications (Nasdaq: SBAC)(BUY) and Equinix (Nasdaq: EQIX)(BUY), and we even believe Verizon (NYSE: VZ)(HOLD) and AT&T (NYSE: T)(HOLD) offer investors a degree of safety with a stable dividend."
Sprint with the good and the bad
"Over the past few trading days, not only has Sprint (NYSE: S) announced that has it exercised an option to revoke the surrender of Clearwire (Nasdaq: CLWR) shares, but it has also been speculated that should Dish Networks (Nasdaq: DISH) do something with its wireless spectrum, it could work with Sprint to share network building costs. We continue to believe Sprint should be evaluated as if it were consolidated with Clearwire. Although potentially a positive event, we note that the creation of another wholesale provider of spectrum (Dish Networks) will only increase competitive pressures in the wireless market, although it would be positive for towers."
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