UPDATE: Goldman Sachs Raises PT on Verizon Communications, 'As momentum continues, strategic activity in focus'
In a report published on Friday, Goldman Sachs analyst Jason Armstrong raised the price target on Verizon (NYSE: VZ) from $54 to $57 and maintained a Buy rating.
In the report, Goldman Sachs stated, "We expect Verizon to report peer-leading growth and profitability metrics once again this quarter, despite a competitive resurgence from T-Mobile and greater activity from AT&T. We forecast postpaid net adds of +902K (above consensus of +840K), and service revenue growth of +8.4% yoy."
Verizon closed on Friday at $51.13.
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