Credit Suisse Raises Verizon to Outperform (VZ)
Verizon (NYSE: VZ) was upgraded by investment analysts at Credit Suisse (NYSE: CS) from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday. The firm currently has a $45.00 target price on the stock.
Verizon traded down 0.95% on Friday, hitting $40.77. Verizon has a 52-week low of $32.28 and a 52-week high of $40.48. The company has a market cap of $115.8 billion and a price-to-earnings ratio of 44.16.
Verizon last posted its quarterly earnings results 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. Verizon’s revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that Verizon will post $0.66 earnings per share next quarter.
A number of other firms have also recently commented on VZ. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Verizon in a research note to investors on Thursday, May 3rd. 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.