Nomura Securities Maintains a 'Neutral' on Verizon Communications (VZ); Strength In Wireless
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Price: $53.35 +0.28%
Rating Summary:
14 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
14 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade VZ Now!
Nomura Securities maintains a 'Neutral' on Verizon Communications (NYSE: VZ) price target of $45.00 (from $42.00).
Analyst, Mike McCormack, said, "Verizon’s 2Q wireless results were strong and we have raised our 2012 EPS estimate to $2.49 from $2.47 to reflect a more bullish wireless margin expectation. Nonetheless, 2Q should have seen a significant EPS beat, but was hijacked by much weaker-than-expected Wireline revenue (Enterprise and Wholesale), higher unallocated overhead costs, and lower “Other Income” to reflect weakness at Vodafone Omnitel in Italy. These pressures are unlikely to abate 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 $44.54 yesterday, with a 52 week range of $32.28-$46.41.
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Analyst, Mike McCormack, said, "Verizon’s 2Q wireless results were strong and we have raised our 2012 EPS estimate to $2.49 from $2.47 to reflect a more bullish wireless margin expectation. Nonetheless, 2Q should have seen a significant EPS beat, but was hijacked by much weaker-than-expected Wireline revenue (Enterprise and Wholesale), higher unallocated overhead costs, and lower “Other Income” to reflect weakness at Vodafone Omnitel in Italy. These pressures are unlikely to abate 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 $44.54 yesterday, with a 52 week range of $32.28-$46.41.
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