Verizon (VZ) Price Tweaks Keep it Competitive, Jefferies Says

Jefferies analyst Mike McCormack commented on Verizon Communications (NYSE: VZ) after tweakes to its More Everything Plans, which raised the EDGE EIP discount from $20 to $25 for plans 10GB or higher.

McCormack states, "With the price change, Verizon now offers the same headline price as AT&T for higher-end ($115/month and higher) plans. We view the move as logical, with little negative impact as there are very few customers that would be priced down. The move also highlights the company’s focus on higher-end, better credit quality subscribers."

The firm maintained a Buy rating and price target of $55 on VZ.

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 $47.82 yesterday.

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