Market Overview

UPDATE: Oppenheimer Holdings Reiterates Outperform Rating, Raises PT on Verizon

Share:
Related VZ
DA Davidson Upgrades Frontier Communications, Cuts Price Target
The Real Reason Apple's iPhone Left Virgin Mobile?
Altice Seen Acquiring Verizon's Local FiOS Business (Investor's Business Daily)

In a report published Wednesday, Oppenheimer Holdings reiterated its Outperform rating on Verizon Communications (NYSE: VZ), and raised its price target from $50.00 to $52.00.

Oppenheimer Holdings noted, “In light of lower iPhone 5 subsidies, we are raising our price target for Verizon by two dollars. The iPhone 5 launch was slightly weaker than expected; inventory looks somewhat constrained for 4Q and a significant portion of iPhone5 sales went un-subsidized. In addition, we are entering a seasonally strong period for the carriers, which we expect the market to recognize. We also believe that a Republican victory could boost stock prices in the form of lower taxes on dividends and less regulation from the FCC.”

Verizon Communications closed on Tuesday at $45.62.

Latest Ratings for VZ

DateFirmActionFromTo
May 2015MacquarieDowngradesNeutralUnderperform
Apr 2015BarclaysMaintainsEqual-weight
Apr 2015JefferiesMaintainsBuy

View More Analyst Ratings for VZ
View the Latest Analyst Ratings

Posted-In: Oppenheimer HoldingsAnalyst Color Price Target Analyst Ratings

 

Related Articles (VZ)

Around the Web, We're Loving...

Get Benzinga's Newsletters