AT&T (T) & Verizon (VZ) Gains Move Telecom ETF (VOX)

May 11, 2012 11:49 AM EDT
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MSCI US Investable Market Telecommunication Services ETF (NYSE: VOX), which invests in large, medium, and small U.S. companies in the telecommunication services sector, is up 1.4 percent today after shares of AT&T (NYSE: T) and Verizon (NYSE: VZ) post fresh highs.

Today analysts at Credit Suisse upgraded both companies from NEUTRAL to OUTPERFORM.

The Credit Suisse report stated that U.S. wireless carriers will see a sharp improvement in margins due to declining smartphone subsides paid to companies like Apple. Both companies tightened their policies on upgrades and so far the new strategy appears to be paying off.

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