Wolfe Research raised the firm’s price target on Verizon to $48 from $46 and keeps an Outperform rating on the shares. The company’s Q4 results “advanced the case” for the shares due to orderly industry segmentation, key performance indicator improvement, falling capex, and falling leverage, the analyst tells investors in a research note. The firm says Verizon’s 2024 guidance offers a 10.6% free cash flow yield and 2.4% adjusted EBITDA growth.
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