Market Overview

UPDATE: Piper Jaffray Upgrades Verizon Communications to Overweight on Assets, Reset Expectations

Share:
Related VZ
The Most Consistent Dividend Payers
The Tailwinds Expected To Boost Cybersecurity In 2017
FCC pulls set-top box vote from today's meeting agenda (Seeking Alpha)

Piper Jaffray upgraded Verizon Communications (NYSE: VZ) from Neutral to Overweight and raised the price target from $45.00 to $50.00.

Piper Jaffray said, "We are upgrading Verizon to Overweight and increasing our target price to $50. Our upgrade is based on a number of factors that bode well for 2013 results: Verizon's best-in-class wireless network continues to help the company win share even with a price premium, the weaker 4Q print could set the company up well to beat reset 2013 expectations, we expect the company to have financial flexibility (read: returning cash to shareholders) in 2013, and wireline margins could improve. Because of these factors, we expect Verizon to outperform over the next 12 months."

Verizon Communications closed at $43.61 on Thursday.

Latest Ratings for VZ

DateFirmActionFromTo
Jul 2016Morgan StanleyMaintainsOverweight
Jul 2016JP MorganMaintainsNeutral
Jul 2016UBSMaintainsNeutral

View More Analyst Ratings for VZ
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Upgrades Analyst Ratings

 

Related Articles (VZ)

View Comments and Join the Discussion!