UPDATE: MoffettNathanson Downgrades Verizon Communications (VZ) to Neutral
- S&P 500, Nasdaq hit record closing peaks on eve of Fed meeting
- Oil steadies after hitting 2-yr high as demand hopes face supply growth
- Bitcoin (BTC) Price Pops 10% as Tesla's Musk Signals Another U-Turn on Bitcoin Payments
- Lordstown Motors (RIDE): CEO and CFO Resign, Presents Results of Investigation Of Hindenburg Research Report
- Paul Tudor Jones is 'Probably' Buying Commodities, Crypto, Gold if Fed Continues to Ignore Inflation Concerns, Endorses Bitcoin (BTC) as a Portfolio Diversifier
MoffettNathanson analyst Craig Moffett downgraded Verizon Communications (NYSE: VZ) from Buy to Neutral, PT $57.00 (from $62.00).
The analyst comments "We still believe Verizon will post stronger ARPU growth in 2021. But that alone isn’t enough. We are moving to Neutral. We revised our target price to $57. We were not persuaded to change our rating on AT&T, notwithstanding a better-than-expected 1Q result. AT&T faces easier comps for the next few quarters, especially in Warner Media, but they face the same long-term challenges as Verizon. We maintain our Sell rating. Our target price is
Shares of Verizon Communications closed at $56.94 yesterday.
You May Also Be Interested In
- R.F. Lafferty Downgrades Lordstown Motors (RIDE) to Sell, $3 PT
- Bharat Heavy Electricals Ltd (BHEL:IN) PT Raised to INR34 at Kotak
- CLSA Downgrades Bursa Malaysia Bhd (BURSA:MK) to Underperform (4)
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!