Verizon downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Verizon Communications (VZ) to Equal Weight from Overweight with an unchanged price target of $44. Verizon is on a much better operational trajectory than has been the case over the last couple of years, but upside to numbers and valuation may be more limited from present levels, the analyst tells investors in a research note. AT&T (T) on the other hand may have slightly better narrative support this year on a relative basis, says the firm. It downgraded Verizon saying the stock’s valuation is more fairly aligned with trend improvements.