JPMorgan Upgrades Verizon Communications (VZ) to Overweight

(updated to add analyst comment)

JPMorgan upgraded Verizon Communications (NYSE: VZ) from Neutral to Overweight with a price target of $58.00.

Analyst Philip Cusick comments "With an increased level of confidence that revenue can stabilize (as the company has consistently guided) and potentially start to grow, and shares off 11% this year vs S&P 500 up 2%, now trading at 10.2x EPS with a 5.1% dividend yield, we upgrade Verizon..."

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 $47.20 yesterday.

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