Vetr Crowd Puts Verizon On Hold

The Vetr crowd on Thursday downgraded their rating of Verizon Communications Inc. VZ from 3.5 stars (Buy), issued 65 days ago, to 3 stars (Hold). Crowd sentiment for the stock is mostly positive, with 80 percent of Vetr user ratings bullish.

After dipping in November to a 10-month low of $46.69, shares of Verizon have been on an upward trend over the past two months. The price was holding at around $51.20 on Thursday afternoon.

Earlier in the week, it was announced that Equinix Inc EQIX had agreed to acquire two dozen of Verizon's data centers for $3.6 billion. The transaction is expected to close sometime in mid-2017.

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Currently, the Vetr crowd's average user target price for Verizon is up at $52.38, which below the the average analyst target price of $54.48. Less than 2 percent of users are holding VZ in their watch lists.