Is being loved by a shouter a good thing? If Jim Cramer of "Mad Money" stock picking fame is the one yelling, and the screams are about how he likes Verizon's 6.1 percent dividend yield, then the answer is yes.
According to Cramer, investors need Verizon in their portfolio because of its dividend yield. The company looks to be a good buy, due to its recent acquisition of Alltel that gave it more than 80 million wireless customers, talks with both Microsoft and Google about Verizon's future wireless platforms, and "huge growth prospects" for FiOS Internet and TV.
Cramer's plug for Verizon is the latest in a series of warm Wall Street love expressed for the telephone company - a situation that has some cable companies a bit touchy and defensive these days.
For more:
- StreetInsider.com reports on Cramer's love-in with Verizon CEO Seidenberg. Post [1].
Related articles
Verizon profit surges 31 percent [2]
Economic smackdown awaiting telcos? - FierceTelecom [3]
Links:
[1] http://www.streetinsider.com/Analyst+Comments/Cramer+Likes+Verizons+%28VZ%29+6.1%25+Dividend+Yield/4142678.html
[2] http://www.fiercetelecom.com/story/verizon-profit-surges-31-percent/2008-10-27
[3] http://www.fiercetelecom.com/story/economic-smackdown-awaiting-telcos/2008-10-09