Canaccord Genuity Maintains a 'Hold' on Verizon (VZ); Positive on Defensive Play - Family Data Sharing

Article Stock Quotes (2) Comments (0)

Canaccord Genuity maintains a 'Hold' on Verizon Communications (NYSE: VZ) price target of $41.00.

Analyst, Greg Miller, said, "Verizon has launched its long-awaited family share plans that appear to be designed to help consumers optimize their purchasing of wireless services in addition to an attempt to minimize pressures on voice ARPUs that remain in the state of decline. With the next-generation iPhone (Nasdaq: AAPL) likely to have a voice app similar to the text app of the last version, we believe the carriers will continue to create defensive barriers around the still-coveted voice revenues. Although it is possible this change will stimulate demand, it is more likely to result in a headwind in the near term."

For an analyst ratings summary and ratings history on Verizon Communications click here. For more ratings news on Verizon Communications click here.

Shares of Verizon Communications closed at $42.94 yesterday, with a 52 week range of $32.28-$42.95.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Verizon Wireless Announces Finalists in Mobile App Concept Development Program at Local Boston High Schools
• Jefferies Bumps Zumiez (ZUMZ) Numbers Up, But Remains on Sidelines
• Janney Capital Trims Numbers on Buckle (BKE), Margins Peaking

Create E-mail Alert Related Categories

Analyst Comments

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?