Canaccord Genuity Sticks With Buy on Verizon (VZ) Post Q2

July 19, 2013 10:26 AM EDT
Get Alerts VZ Hot Sheet
Price: $52.55 --0%

Rating Summary:
    16 Buy, 25 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 6
Trade VZ Now!
Join SI Premium – FREE
Canaccord Genuity analyst Greg Miller reiterated a Buy rating and $55 price target on Verizon Communications (NYSE: VZ) Friday following in line Q2 results.

Miller said "Verizon reported results basically in line with expectations... Importantly, the company barely addressed its potential entry into the Canadian wireless market or the ever-present possibility of the acquisition of part or all of the 45% interest in Verizon Wireless it currently does not hold leaving it open to speculation. Even though we have yet to witness a wireline recovery and with the US wireless business becoming increasingly competitive and no clear determination on near-term M&A activity, we continue to recommend the share for purchase with a $55 price target."

Miller increased his 2013 estimated revenue to $120.3B from $120.5B.

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 $49.97 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Canaccord Genuity

Add Your Comment