Verizon price target raised to $42 from $39 at Citi

Citi analyst Michael Rollins raised the firm’s price target on Verizon to $42 from $39 and keeps a Neutral rating on the shares following the Q4 results. The guidance range for EBITDA in 2023 seems reasonable and incorporates promotional costs staying elevated, the analyst tells investors in a research note. Citi, however, remains concerned that postpaid industry phone growth may slow below the levels that Verizon is anticipating within its guidance targets.