Verizon and T-Mobile Price Targets Raised After Starlink Hits 3M Subscribers
SpaceX’s SPCX stock climbed 2.63% after Starlink reached 3 million active subscribers, intensifying rural broadband competition. Analyst Jane Doe raised Verizon’s target to $62 (10% upside) and T-Mobile’s to $155 (12% upside), citing margin gains from upcoming 5G deployments.
1. Starlink Expands Subscriber Base
SpaceX’s Starlink service added roughly 500,000 new users in Q2, pushing its total subscriber count past 3 million worldwide. This growth highlights Starlink’s accelerating penetration in underserved rural and remote markets, creating heightened competitive pressure on incumbent broadband providers.
2. Analyst Adjusts Telecom Price Targets
Despite satellite competition, analyst Jane Doe maintained buy ratings on Verizon and T-Mobile while increasing their 12-month price targets to $62 and $155 respectively. The upgrades reflect expectations for margin expansion driven by 5G network upgrades and potential wholesale partnerships with satellite broadband services.
