Goldman Sachs analyst Brett Feldman made some changes to his positioning on telecommunications stocks Wednesday, elevating Verizon Communications Inc. shares /zigman2/quotes/204980236/composite VZ +0.24% to Goldman's 'conviction list' while dropping Comcast Corp. /zigman2/quotes/209472081/composite CMCSA -0.54% and Altice USA Inc. /zigman2/quotes/207426329/composite ATUS -0.66% from the list. He also downgraded shares of CenturyLink Inc. /zigman2/quotes/200067545/composite CTL +1.13% and Intelsat SA /zigman2/quotes/205500850/composite I +15.28% to sell from neutral. On Verizon, he said that the stock offers "the most attractive combination of total return and risk owing to its stable wireless business, well-covered dividend (4.6% yield) and strong balance sheet." He worries about "cord-cutting, advertising and [small-and medium-sized business] exposure" for Comcast and Altice USA but kept buy ratings on those stocks even while removing them from the conviction list. Feldman is concerned that the COVID-19 outbreak could put additional pressure on CenturyLink's wireline business and thus its earnings, and he has a more downbeat view on Intelsat due to the company's cruise-ship, aviation, and traditional media exposure.