KeyBanc upgraded Verizon Communications (VZ) to Overweight from Sector Weight with a $45 price target. The firm sees wireless industry competitive intensity being low in 2024, which makes it want more wireless exposure. Verizon should show better postpaid phone net add performance this year and its broadband subscriber growth is far outpacing AT&T‘s (T), the analyst tells investors in a research note. KeyBanc believes investors are likely to see a deleveraging story with the potential for share repurchases into 2025.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on VZ:
- T-Mobile tops TD Cowen’s best ideas in telecom, cable and satellite
- 5 Undervalued Stocks Ready to Take Off in 2024
- Verizon continues the gift-giving season with expanded service throughout Florida
- Verizon continues the gift-giving season with new 5G service in Aiken County, SC
- Verizon continues the gift-giving season with new 5G service in Kennesaw, GA