UPDATE: Loop Capital Starts Verizon Communications (VZ) to Hold

September 20, 2021 4:48 PM EDT
Get Alerts VZ Hot Sheet
Price: $52.77 +0.27%

Rating Summary:
    15 Buy, 28 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 18 | New: 16
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(Updated - September 20, 2021 4:54 PM EDT)

Loop Capital analyst Stephan Bisson initiates Verizon Communications (NYSE: VZ) from to Hold with a price target of $57.00.

The analyst commented, "Verizon is the largest wireless company in the U.S. with steadily growing wireless assets and a potentially exciting future with 5G enabling new products such as Mobile Edge Compute (MEC) and Fixed Wireless Broadband. That said, current growth isn’t fast enough to drive multiple expansion, the upside to numbers from MEC is difficult to quantify given the nascent state of these services and we think investors will have time to see the products develop before diving in. Our $57 price target is based on a 7.5x target multiple on our ‘23E EBITDA. Our 7.5x target multiple is generally in line with VZ’s current trading multiple, as well as its 1-and 3-year average multiples."

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 $54.28 yesterday.

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