Market Overview

UPDATE: Piper Jaffray Upgrades Verizon Communications to Overweight on Assets, Reset Expectations

Share:
Related VZ
Verizon Addresses Accusations Of Bandwidth Manipulation Limiting Netflix, YouTube Streaming
Follow The Money: 5 Summer Blockbuster Media Deals
T-Mobile Sprints Out of the Gate (GuruFocus)

Piper Jaffray upgraded Verizon Communications (NYSE: VZ) from Neutral to Overweight and raised the price target from $45.00 to $50.00.

Piper Jaffray said, "We are upgrading Verizon to Overweight and increasing our target price to $50. Our upgrade is based on a number of factors that bode well for 2013 results: Verizon's best-in-class wireless network continues to help the company win share even with a price premium, the weaker 4Q print could set the company up well to beat reset 2013 expectations, we expect the company to have financial flexibility (read: returning cash to shareholders) in 2013, and wireline margins could improve. Because of these factors, we expect Verizon to outperform over the next 12 months."

Verizon Communications closed at $43.61 on Thursday.

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: Piper JaffrayAnalyst Color Upgrades Analyst Ratings

 

Related Articles (VZ)

View Comments and Join the Discussion!