Verizon (VZ) Should Be Bought for its Offensive Characteristics, Not Just Defensive - Goldman

Earlier Monday, Goldman Sachs lifted its price target on Verizon Communications (NYSE: VZ) from $42 to $45 and reiterated their Conviction Buy List rating.

The firm said they viewed the company's Q3 "favorably," with wireless APRU trends accelerating and retail service revenue. In addition, the company delivered a record margin quarter in wireless.

Goldman said while the stock of Verizon has performed well due to its "safe haven" status in a volatile market, they like the stock more on its offensive characteristics. The firm said the Q3 results should improve investor sentiment.

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.

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