Standpoint Research Initiates Coverage On Verizon & ATT With Buy Ratings (VZ, T)
Standpoint Research initiated coverage of both Verizon (NYSE: VZ) and AT&T (NYSE: T) today. According to Standpoint analyst, Ronnie Moas, this is the first time in 7 years that he is opening a recommendation in the U.S. Integrated Telecom industry. Moas wrote that both Verizon (VZ) and AT&T (T) have underperformed the S&P 500 over the last twelve months and he believes the timing is right for these two names to begin outperforming.
Standpoint has a price target of $37 on VZ shares and a target of $33 on AT&T stock. Both of these securities offer very attractive dividends of 6.3% and 6.5% respectively. During today's trading, Verizon has gained 0.13% to $30.35. AT&T has appreciated 0.46% to $26.18.
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