Piper Jaffray upgraded Verizon Communications 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in