UPDATE: Bank of America Reiterates Neutral Rating, Raises PT on Verizon Communications on Recent Talks with Vodafone

In a report published Friday, Bank of America analyst David W. Barden reiterated his Neutral rating on Verizon Communications

, and raised his price target from $45.00 to $50.00. In the report, Barden noted, “Recent press reports have suggested that Verizon and long-time Verizon Wireless partner Vodafone a) recently held failed merger talks, b) that these talks failed to progress as far as previously failed merger talks, and c) that no talks are currently being held. While the news appears to be that nothing is happening, consistent with Verizon's public comments on the status of its Vodafone partnership, the prospect of Verizon buying all of Vodafone has proven tantalizing for VOD bulls.” Verizon Communications closed on Thursday at $47.94.