In response to Sprint's (S) recent discounted offer for shared data, Verizon issued another round of price cuts over the weekend to try to entice new subscribers. The company trimmed the price for its 10-gigabyte plan to $80 a month from $100 a month and cut the cost of its 15-gigabyte plan to $100 a month from $110 a month.
Sprint announced a plan for double data in October under which customers would receive 20 gigabytes for $100. This was twice the amount of T-Mobile's (TMUS) plan of 10 gigabytes for $100 and marks the lowest price for data among the four major U.S. carriers.
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Watch the video below for more on Verizon's new pricing plan:
Separately, TheStreet Ratings team rates VERIZON COMMUNICATIONS INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIZON COMMUNICATIONS INC (VZ) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, compelling growth in net income, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."