In a report issued on July 11, Mike McCormack from Guggenheim reiterated a Buy rating on Verizon (NYSE: VZ), with a price target of $59. The company’s shares closed yesterday at $51.41.
According to TipRanks.com, McCormack is a 5-star analyst with an average return of 13.0% and a 78.1% success rate. McCormack covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, GTT Communications, and Sprint Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Verizon with a $56.11 average price target, representing a 9.1% upside. In a report issued on July 10, Credit Suisse also initiated coverage with a Buy rating on the stock with a $58 price target.
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Verizon’s market cap is currently $212.4B and has a P/E ratio of 6.74. The company has a Price to Book ratio of 4.18.
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