KeyBanc analyst Brandon Nispel lowered the firm’s price target on Verizon (VZ) to $44 from $46 and keeps an Overweight rating on the shares following the announcement of the Frontier Communications (FYBR) acquisition. While much of the firm’s upgrade thesis is continuing to play out and KPIs/business fundamentals are improving, it may not matter as the bull case of capital returns via buybacks is now off the table until 2027-2028, the analyst tells investors in a research note.
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