Starlink's Threat Triggers Bernstein to Lower Wireless Carrier Price Targets
Bernstein slashed its price targets for AT&T, Verizon, and T-Mobile, flagging SpaceX's Starlink direct-to-cell service as a growing competitive risk. Investors holding or considering these telecom stocks should weigh the satellite-based disruption to revenue and market share.
Analysts at Bernstein have reduced their stock price targets for the three largest U.S. wireless carriers—AT&T, Verizon, and T-Mobile—citing an escalating threat from SpaceX's Starlink satellite network, which is rolling out direct-to-cellphone connectivity. The downgrades reflect concerns that Starlink could erode traditional mobile carriers' pricing power and subscriber growth, particularly in rural and underserved areas where terrestrial coverage is weakest. Bernstein's revised models incorporate a higher probability of consumer churn toward Starlink's emerging service, which promises to bypass cell towers entirely.
The price target cuts come as Starlink expands its partnership with T-Mobile, with initial
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