Market Overview

UPDATE: Goldman Sachs Raises PT on Verizon Communications, 'As momentum continues, strategic activity in focus'

Related VZ
Will Telecom Bundling Eventually Kill Cable?
#PreMarket Primer: Friday, August 22: Draghi, Yellen Set To Speak At Jackson Hole
Sprint Faces Many Hurdles in Mobile Provider Race (Fox Business)

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.

Posted-In: Goldman Sachs Jason ArmstrongAnalyst Color Price Target Analyst Ratings

 

Related Articles (VZ)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters