Verizon Receives a Hold from RBC Capital

By Jason Carr

In a report released today, Jonathan Atkin from RBC Capital reiterated a Hold rating on Verizon (NYSE: VZ), with a price target of $48. The company’s shares opened today at $45.05, close to its 52-week low of $44.46.

According to TipRanks.com, Atkin is a top 25 analyst with an average return of 16.5% and a 84.5% success rate. Atkin covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, Interxion Holding NV, and Zayo Group Holdings.

Verizon has an analyst consensus of Hold, with a price target consensus of $50.20.

Based on Verizon’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $29.81 billion and quarterly net profit of $3.45 billion. In comparison, last year the company earned revenue of $32.17 billion and had a net profit of $4.31 billion.

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