Nomura Securities Maintains a 'Neutral' on Verizon Communications (VZ); Q3 Review

Nomura Securities maintains a 'Neutral' on Verizon Communications (NYSE: VZ) price target of $34.00.

Nomura analyst, Mike McCormack, said, "Verizon posted an impressive quarter, led by strength in the wireless division. Notably, wireless margins of 47.8% contributed to an overall $0.02 EPS beat. Despite our enthusiasm for the third-quarter results, we continue to find valuation uncompelling. With the shares trading at nearly a 30% premium to the nearest competitor, AT&T (NYSE: T), we believe that characteristics such as above-peer growth and the perception of network superiority are priced in."

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 $37.42 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
• TD Cowen Reiterates Buy Rating on Kinder Morgan (KMI)
• Wells Fargo Reiterates Overweight Rating on Micron Technology (MU)