Normura Securities reported that they have upgraded communications company, Verizon Communications Inc.(VZ) on Monday to a “Buy”.
The firm announced that they have upgraded VZ from “Neutral” to “Buy,” and have given the company a price target of $50. This price target suggests an 11% increase from the stock’s current price of $44.46.
Analyst see continued growth for the company.
Verizon shares were up 33 cents, or 0.75% during premarket trading Monday. The stock is up 9.97% YTD.
The Bottom Line
We have been recommending shares of Verizon (VZ) since Oct.10, 2008, when the stock was trading at $25.93. The company has a 4.67% dividend yield, based on Friday’s closing stock price of $44.12.
Verizon Communications Inc.(VZ)is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.