UPDATE: Morgan Stanley Resumes Coverage on Verizon Communications on Good Market Position
In a report published Thursday, Morgan Stanley analyst Simon Flannery resumed coverage on Verizon Communications (NYSE: VZ) with an Overweight rating and $52.00 price target.
In the report, Morgan Stanley noted, “Valuation looks attractive, as the market seems to be pricing in the impact of the flow back (Vodafone distributed ~1,275m shares to shareholders). Wireless competition is a risk, but we believe that Verizon is best positioned. Our $52 price target offers ~17% total return.”
Verizon Communications closed on Wednesday at $46.35.
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