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Wells Fargo Checks Show Verizon (VZ) Continues to Execute

March 14, 2013 2:50 PM EDT Send to a Friend
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This morning analysts at Wells Fargo put out a note discussing wireless carriers. Checks showed a typical slow Q1. Analyst Jennifer M. Fritzsche said this was not surprising give the lack of "wow" devices.

Checks showed Verizon Communications Inc. (NYSE: VZ) continued to execute and leads the industry in gross add gains and churn. AT&T (NYSE: T) held its own but continues to lose subs to Verizon, though it performed well compared to Sprint (NYSE: S) and T-Mobile.

"We believe S has continued to lose some share to both T and VZ (especially). Sprint is still gaining share vs. T-Mobile but at a seemingly slower rate than it did in the past," said Fritzsche.

Regarding T-Mobile, she said, "Our checks show that T-Mobile's postpay (contract) growth continues to face challenges in terms of gross adds. However, interestingly, our checks also show that postpay churn seems to be showing some improvement."

Wells Fargo has an Outperform rating on Verizon Communications.

For an analyst ratings summary and ratings history on Verizon Communications (NYSE: VZ) click here. For more ratings news on Verizon Communications click here.

Shares of Verizon Communications closed at $47.94 yesterday.




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