Canaccord Genuity Maintains a 'Hold' on Verizon Communications (VZ); Review Period For Spectrum Deal Extended
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Price: $51.47 -1.15%
Rating Summary:
14 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
14 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade VZ Now!
Canaccord Genuity maintains a 'Hold' on Verizon Communications (NYSE: VZ) price target of $36.00.
Analyst, Greg Miller, said, "Yesterday the FCC disclosed that it would extend the informal shot clock process in reviewing the proposed wireless spectrum deals with Comcast (Nasdaq: CMCSK), Time Warner Cable (NYSE: TWC), Cox Communications and Bright House Networks. The extension by only 21 days is to provide others additional time to evaluate documents that have been filed either late or difficult-to-use formats and not likely a function of speculated increasing regulatory opposition...We do not believe the 21-day extension represents a significant step back for the proposed wireless spectrum transactions. We continue to believe they will occur later this summer and that Verizon Wireless will have managed to create a contiguous nationwide AWS spectrum band for use in an increasingly spectrum-constrained market."
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 $40.60 yesterday, with a 52 week range of $32.28-$40.84.
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Analyst, Greg Miller, said, "Yesterday the FCC disclosed that it would extend the informal shot clock process in reviewing the proposed wireless spectrum deals with Comcast (Nasdaq: CMCSK), Time Warner Cable (NYSE: TWC), Cox Communications and Bright House Networks. The extension by only 21 days is to provide others additional time to evaluate documents that have been filed either late or difficult-to-use formats and not likely a function of speculated increasing regulatory opposition...We do not believe the 21-day extension represents a significant step back for the proposed wireless spectrum transactions. We continue to believe they will occur later this summer and that Verizon Wireless will have managed to create a contiguous nationwide AWS spectrum band for use in an increasingly spectrum-constrained market."
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 $40.60 yesterday, with a 52 week range of $32.28-$40.84.
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