Verizon Shares Rise 22% as Analysts Boost Price Targets
Wall Street analysts have upgraded their outlook for Verizon Communications Inc. after the telecom's second‑quarter earnings. TD Cowen increased its price target to $56 from $54, while Morgan Stanley lifted its target to $52 from $50. Scotiabank also raised its target to $52.50 from $51.50. In total, at least six analysts raised price targets, citing stronger earnings, growth in postpaid phone accounts and a new go‑to‑market strategy.
Verizon's stock has climbed roughly 22% year‑to‑date, and a consensus 12‑month target of $51.56 reflects continued optimism. Morningstar reaffirmed a fair‑value estimate of $54, maintaining its 'Narrow Economic Moat' rating.
Entities: Alphabet Inc. · Dan Schulman · Morgan Stanley · Morningstar · Royal Bank of Canada · Scotiabank · TD Cowen · Verizon Communications · Verizon Communications Inc.
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Morningstar reaffirmed a fair‑value estimate of $54 for Verizon. (Morningstar)
- [○ 1 SOURCE] Scotiabank raised its price target for Verizon to $52.50 from $51.50. (Scotiabank)
- [○ 1 SOURCE] A consensus 12‑month price target for Verizon is $51.56 based on 26 analysts. (Koyfin data)
- [○ 1 SOURCE] At least six analysts increased price targets for Verizon after its Q2 earnings.
- [○ 1 SOURCE] Morgan Stanley raised Verizon's price target to $52 from $50. (Morgan Stanley)
- [○ 1 SOURCE] TD Cowen raised Verizon's price target to $56 from $54. (TD Cowen)
- [○ 1 SOURCE] Verizon's shares have risen about 22% year‑to‑date.