Verizon Restores Services After Nationwide Outage Affecting 171,000 Customers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: seekingalpha
- Service Restoration: Verizon announced the restoration of its nationwide network services after a major outage affected over 171,000 customers on Wednesday, although the specific cause of the interruption remains undisclosed; the company has committed to providing account credits to impacted users as compensation.
- Customer Apology and Commitment: Verizon expressed regret to its customers, emphasizing its ongoing efforts to ensure service restoration for all affected users and pledging to provide detailed compensation information in the coming days, reflecting the company's focus on customer satisfaction.
- Competitor Impact Lower: While AT&T and T-Mobile also reported service disruptions, the impact was significantly less severe than that experienced by Verizon, indicating that Verizon faces greater challenges in network stability, which could affect its market reputation.
- Ongoing Improvement Plans: The appointment of a new CEO signals that Verizon is undergoing a restructuring aimed at enhancing efficiency, which may involve investments in technology and service optimization to improve network reliability, thereby boosting customer trust and competitive positioning.
Analyst Views on VZ
Wall Street analysts forecast VZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for VZ is 46.79 USD with a low forecast of 43.00 USD and a high forecast of 51.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
5 Buy
11 Hold
0 Sell
Moderate Buy
Current: 39.010
Low
43.00
Averages
46.79
High
51.00
Current: 39.010
Low
43.00
Averages
46.79
High
51.00
About VZ
Verizon Communications Inc. is a holding company. The Company, through its subsidiaries, provides communications, technology, information and streaming products and services to consumers, businesses and government entities. Its Consumer segment provides wireless and wireline communications services. It also provides fixed wireless access (FWA) broadband through its 5G or 4G Long-Term Evolution (LTE) networks portfolio. The Company's Business segment provides wireless and wireline communications services and products, including FWA broadband, data, video and advanced communication services, corporate networking solutions, security and managed network services, local and long-distance voice services and network access to deliver various Internet of Things (IoT) services and products. It provides these products and services to businesses, public sector customers and wireless and wireline carriers across the U.S. and a subset of these products and services to customers around the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
