BofA raised the firm’s price target on Verizon (VZ) to $45 from $41 and keeps a Neutral rating on the shares. The firm “nudged” its consolidated financial estimates “slightly higher” ahead of Q3 results to reflect steady progress on delivering low-single-digit growth in 2024, adding in its preview that it expects Verizon to reiterate 2024 guidance, expectations for positive annual consumer post-paid phone net adds, and discuss early demand for Apple’s (AAPL) iPhone 16.
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