Nomura Securities Maintains a 'Neutral' on Verizon Communications (VZ); Wait-and-See Approach

Nomura Securities maintains a 'Neutral' on Verizon Communications (NYSE: VZ).

Nomura analyst, Mike McCormack, says, "Following a disappointing 2Q11, we see risks to revenue guidance. Our revised revenue expectations are now below Verizon’s targeted 4%-8% growth range, and with iPhone units tracking below the 11mn guidance basis, EPS expectations may need review. We reduced our 2012 EPS estimate to $2.57 from $2.62. With the shares trading at a meaningful premium to peers, and growth expectations not materializing at this time, we recommend investors take a wait-and-see approach to VZ shares."

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 $36.74 yesterday.

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