That presents an opening for investors, Cramer said. "Unless you think interest rates are going to shoot up, this may be the opportunity." Verizon is a growth company with good numbers in his view.
Sprint (S) and T-Mobile (TMUS) have been spending to upgrade their networks, Faber noted, igniting concerns about competitive pressure. That may hurt margins.
Despite these concerns, Cramer marveled, "I can't understand why that stock's not higher." He sees VZ going to $48. Faber added that its 4.5% dividend yield is also attractive.
Cramer concluded that "I would not dump Verizon." Its stubbornly resistant stock price, though, is a "puzzlement." It can't seem to break out, even in a market-wide rally.
- Written by Nora Morrison in Cleveland.