Goldman Sachs Assumes Verizon Communications (VZ) at Buy

Goldman Sachs analyst Michael Ng assumes coverage on Verizon Communications (NYSE: VZ) with a Buy rating and a price target of $49.00.

The analyst comments: "We assume coverage of Verizon Communications (VZ) with a Buy rating and a 12-month target price of $49. Verizon is the largest mobile network operator in the US, as well as a significant provider of consumer and commercial broadband access services. We’re encouraged by Verizon’s efforts to drive growth through continued wireless service ARPU growth through Perks, promotional amortization roll-offs, and pricing, while also benefiting from MVNO service revenue - primarily through its agreements with Comcast and Charter. In addition, we expect Verizon’s growth in fiber passings from about 19 mn in 2025E to 32 mn in 2029E (v. target of 30 mn by 2028E and 35-40 mn over time, pro-forma for the proposed acquisition of Frontier) should help drive an acceleration in Fios internet subscriber net additions."

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 $44.23 yesterday.

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