UPDATE: MoffettNathanson Downgrades Verizon Communications (VZ) to Neutral

April 27, 2021 6:34 AM EDT
Get Alerts VZ Hot Sheet
Price: $57.18 -0.26%

Rating Summary:
    15 Buy, 27 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 12 | New: 42
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(Updated - April 27, 2021 6:52 AM EDT)

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
unchanged."

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 $56.94 yesterday.


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