Verizon Downgraded at UBS (VZ)
UBS reported that they have downgraded communications company, Verizon Communications Inc.(VZ) on Monday.
The firm has downgraded VZ from “Buy” to “Neutral,” and has given the company a $44 price target. This price target suggests a 2.5% increase from the stock’s current price of $42.90.
Analysts view the company as a market leader in wireless communications, but have reduced their rating on the company due to lower than expected earnings.
Verizon shares were down 40 cents, or -0.92% during premarket trading Monday. The stock has increased 11% in the past year.
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 4.76% dividend yield, based on Friday’s closing stock price of $43.30.
Verizon Communications Inc.(VZ)is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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