Citadel Securities Maintains a 'Reduce' on Verizon (VZ); 2Q11 First Look: Postpaid Subscribers Flock, But ARPU Loses Momentum

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Citadel Securities maintains a 'Reduce' on Verizon Communications (NYSE: VZ) price target of $33.00.

Citadel analyst says, "While the 2Q results were solid, we believe the consensus model needs to be reset somewhat. In our view, bullish investors are likely looking for Verizon's ARPU gains to accelerate throughout this year as smartphone penetration rises rapidly; the 2Q ARPU trend likely puts a damper on this thesis."

For more ratings news on Verizon Communications click here and for the rating history of Verizon Communications click here.

Shares of Verizon Communications closed at $37.57 yesterday, with a 52 week range of $26.41-$38.78.

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