Verizon Communications (VZ) PT Raised to $68 at SunTrust

October 9, 2019 8:48 AM

SunTrust analyst Greg Miller raised the price target on Verizon Communications (NYSE: VZ) to $68.00 (from $61.00) while maintaining a Buy rating after spending time with management. Following the meeting, Miller is confident the company will maintain its leadership in technology deployments (5G) despite its spectrum position relative to its peers.

Miller believes the more aggressive promotional activity of the third quarter that was designed to bolster the base of unlimited users leading up to the 5G mobile launch will result in a stronger base of users in which to launch its 5G services from.

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