Canaccord Genuity Starts Verizon Communications (VZ) at Hold; Remaining Cautious On The Two Big Names
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Price: $49.19 -0.34%
Rating Summary:
17 Buy, 35 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
17 Buy, 35 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity initiates coverage on Verizon Communications (NYSE: VZ) with a Hold. PT $36.00.
Analyst, Greg Miller, said, "The stock performed well as expected relative to AT&T (NYSE: T) throughout H2/11, but we no longer expect it to. iPhone (Nasdaq: AAPL) and overall wireless trends have been strong, but increasing promotional activity will likely limit margin recovery. We believe that wireline margin improvements will likely materialize in 2012. However, the stock is trading at the higher end of the historical range with little confidence of materially higher estimates. Priced at 6.0x 2012E EBITDA, the stock remains valued as if its operational performance will continue to outpace that of AT&T’s. We continue to remain cautious on the two large names, expecting negative fund flows with an improving market."
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 $39.33 yesterday.
Analyst, Greg Miller, said, "The stock performed well as expected relative to AT&T (NYSE: T) throughout H2/11, but we no longer expect it to. iPhone (Nasdaq: AAPL) and overall wireless trends have been strong, but increasing promotional activity will likely limit margin recovery. We believe that wireline margin improvements will likely materialize in 2012. However, the stock is trading at the higher end of the historical range with little confidence of materially higher estimates. Priced at 6.0x 2012E EBITDA, the stock remains valued as if its operational performance will continue to outpace that of AT&T’s. We continue to remain cautious on the two large names, expecting negative fund flows with an improving market."
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 $39.33 yesterday.
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