UPDATE: Morgan Stanley Lowers Price Target On Verizon Communications On Near-Term Headwinds

In a report published Friday, Morgan Stanley analyst Simon Flannery reiterated an Overweight rating on

, but lowered the price target from $51.00 to $50.00. In the report, Morgan Stanley noted, “Guidance for 2015 was largely in-line with our estimates, although consensus will have to revise their estimates down. The dividend is attractive and valuations are reasonable, but the stock will see some near term pressure from the auction results, net neutrality rules, and wireless competition.” Verizon Communications closed on Thursday at $47.80.