Canaccord Genuity Sets Verizon Price Target at $41.00 (VZ)
Research analysts at Canaccord Genuity increased their target price on shares of Verizon (NYSE: VZ) from $36.00 to $41.00 in a report released on Monday. The firm currently has a “buy” rating on the stock.
Shares of Verizon opened at 40.89 on Monday. Verizon has a one year low of $32.28 and a one year high of $41.43. The company has a market cap of $116.2 billion and a P/E ratio of 43.87.
Verizon last issued its quarterly earnings data on Thursday, April 19th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.58 by $0.01. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts predict that Verizon will post $0.66 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse (NYSE: CS) upgraded shares of Verizon from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $45.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Verizon in a research note to investors on Wednesday, May 2nd. They now have a $43.00 price target on the stock. Finally, analysts at JPMorgan Chase (NYSE: JPM) raised their price target on shares of Verizon from $40.00 to $41.00 in a research note to investors on Friday, April 20th. They now have a “neutral” rating on the stock.
Verizon Communications Inc. (Verizon) is a holding company. The Company is a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies.