01:05 PM EDT, 04/22/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $33, applying an EV/EBITDA multiple of 6.4x to our 2024 estimate, a slight discount to peers, reflecting our weak growth outlook. We trim our 2024 EPS estimate by $0.01 to $4.57 and lower 2025's by $0.02 to $4.65. VZ reported Q1 operating EPS of $1.15 vs. $1.20, $0.02 above the consensus. Q1 revenue increased 0.2%, driven by 1) 0.8% growth in the Consumer business, with gains in service partially offset by declines in wireless equipment revenue due to lower upgrades and 2) a 1.6% fall in the Business segment, driven by declines in wireline and equipment revenue. Consumer postpaid net losses were 158k, while business postpaid adds were 90k with consolidated broadband net adds of 389k. While results came in ahead of expectations, revenue growth was partly driven by price increases, which we don't see as a sustainable strategy in the long run given the ongoing losses of postpaid subscribers.