Verizon's stock has been under pressure in the wake of recent reporting on lead cables, and one analyst worries the stock could stay in the penalty box.
Verizon Communications Inc.’s stock has been under pressure in the wake of recent reporting on legacy lead-sheathed cables used within the telecommunications industry, and one analyst worries the stock could stay in the penalty box.
Edward Jones analyst David Heger downgraded Verizon shares VZ to hold from buy Monday, writing of his concerns after the Wall Street Journal reported on the lead cables that were used in the past by telecommunications companies and that are still in the ground and elsewhere today. See also: Verizon’s stock slides toward lowest level in more than 12 years amid longest losing streak since 2017
Read: AT&T sees ‘incredibly healthy’ wireless market, even as several factors will ding growth this quarter“We have not seen, nor have regulators identified, evidence that legacy lead-sheathed telecom cables are a leading cause of lead exposure or the cause of a public health issue,” a spokesperson for the trade group said last week.
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