Cowen Notes From Verizon's (VZ) Analyst Meeting

Cowen Telecom Analyst, Gregory Williams, attended a sell-side analyst event hosted by Verizon (NYSE: VZ) at its company headquarters. The company provided detail on two of its new growth initiatives including go90 (mobile video) and ThingSpace (internet off things). Notes follow:

go90 –

-Management hasn’t meaningfully started marketing and remains focused on building out the content line-up. Currently just ~50% of the content that it intends to have by YE is available.

- There has been a 40% increase in time viewed per user.

-There is tremendous interest from content companies/advertisers which are eager to reach the target millennial customers.

ThingsSpace –

- Launched date was last week.

-Goal is to be an end to end Internet of Things solution set including apps, platforms, connectivity, and sensors.

- The company is focusing on five areas: ag-tech, energy, healthcare, share platforms, and smart cities.

-Launching in 92 countries

Despite the big picture opportunities, in front of what is already expected to be flat EPS growth next year the analyst thinks “it’s hard to identify any NT catalysts that will meaningfully drive the stock”.

No changes to the firm's Market Perform rating or $48 PT.

For an analyst ratings summary and ratings history on Verizon Communications click here. For more ratings news on Verizon Communications click here.

Shares of Verizon Communications closed at $46.78 yesterday.

You May Also Be Interested In

• Oppenheimer Reiterates Outperform Rating on Verizon Communications (VZ)
• Spotify (SPOT) PT Raised to $345 at Macquarie
• Spotify (SPOT) PT Raised to $396 at Rosenblatt