UPDATE: Jefferies Raises PT on Verizon Communications on Record Wireless EBITDA Margins
In a report published Friday, Jefferies analyst Thomas Seitz reiterated a Buy rating on Verizon Communications (NYSE: VZ), and raised the price target from $52.00 to $56.00.
In the report, Seitz noted, “We believe Verizon continues to take market share in the postpaid segment while cost management initiatives and low upgrade rate drive record wireless EBITDA margins. Share buy backs and improving wireline margins through pick up in enterprise business and accelerated copper to fiber migration could add further to our forecasted multi-year double digit EPS growth.”
Verizon Communications closed on Thursday at $50.91.
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