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UPDATE: Oppenheimer Holdings Reiterates Outperform Rating, Raises PT on Verizon

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In a report published Wednesday, Oppenheimer Holdings reiterated its Outperform rating on Verizon Communications (NYSE: VZ), and raised its price target from $50.00 to $52.00.

Oppenheimer Holdings noted, “In light of lower iPhone 5 subsidies, we are raising our price target for Verizon by two dollars. The iPhone 5 launch was slightly weaker than expected; inventory looks somewhat constrained for 4Q and a significant portion of iPhone5 sales went un-subsidized. In addition, we are entering a seasonally strong period for the carriers, which we expect the market to recognize. We also believe that a Republican victory could boost stock prices in the form of lower taxes on dividends and less regulation from the FCC.”

Verizon Communications closed on Tuesday at $45.62.

Latest Ratings for VZ

DateFirmActionFromTo
Apr 2017ArgusDowngradesBuyHold
Apr 2017SunTrust Robinson HumphreyInitiates Coverage OnHold
Jan 2017Evercore ISI GroupInitiates Coverage OnHold

View More Analyst Ratings for VZ
View the Latest Analyst Ratings

Posted-In: Oppenheimer HoldingsAnalyst Color Price Target Analyst Ratings

 

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