RBC Capital analyst Kutgun Maral maintained a Hold rating on Verizon (VZ – Research Report) today and set a price target of $40.00. The company’s shares opened today at $40.54.
Maral covers the Services sector, focusing on stocks such as Charter Communications, Walt Disney, and Endeavor Group Holdings Inc. According to TipRanks, Maral has an average return of 4.0% and a 51.47% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Verizon with a $47.33 average price target, representing a 16.75% upside. In a report released today, Deutsche Bank also maintained a Hold rating on the stock with a $44.00 price target.
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Based on Verizon’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $34.24 billion and a net profit of $4.9 billion. In comparison, last year the company earned a revenue of $32.92 billion and had a net profit of $6.41 billion
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Verizon Communications, Inc. provides wireless and wireline communications services and products through its two segments: Verizon Consumer Group and Verizon Business Group. The Verizon Business segment also offers video and data services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various Internet of Things (IoT) services and products. The company was founded in 1983 and is headquartered in New York, NY.
Read More on VZ:
- Verizon expects capital spending of $17B in 2024
- Verizon Declines after Outlook disappoints; Q4 EPS In Line
- Verizon reports Q4 wireless postpaid phone net additions of 217,000
- Verizon reports Q4 broadband net additions 416,000
- Strong wireless service revenue growth highlights Verizon’s 4Q and 2022 results