Canaccord Reiterates Buy On Verizon Communications Following Q4/14 QTD Trends Release
Canaccord Genuity analyst Greg Miller reiterated a Buy rating on Verizon Communications (NYSE:VZ) with a $56 price target, as the company announced Q4/14 QTD trends which were largely consistent with Canaccord expectations.
Miller noted, “While our model already contemplated Q4/14 playing out this way, higher churn raises the specter of potential share losses and likely rattles investors’ nerves if the market leader again shows signs of susceptibility to industry price competition. While cognizant of the impact the increasingly-competitive environment is having in terms of gaining and maintaining share, we continue to recommend Verizon.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Greg Miller has a total average return of 5.8% and a 72.1% success rate. Miller has a 3.0% average return when recommending VZ, and is ranked #927 out of 3401 analysts.