Matthew Griffiths, an analyst from Bank of America Securities, reiterated the Hold rating on Verizon (VZ – Research Report). The associated price target is $45.00.
Matthew Griffiths has given his Hold rating due to a combination of factors including Verizon’s current market position and recent performance metrics. The company has faced higher competitive intensity, leading to increased churn and lower net additions than anticipated. Despite these challenges, Verizon has managed to improve its gross additions and is focusing on reducing churn in 2025 to stabilize its wireless service revenue growth.
Additionally, Verizon’s strategic initiatives, such as the planned acquisition of Frontier and adjustments in service revenue reporting, are aimed at aligning with its growth targets. However, the extension of holiday promotions into the first quarter and the resulting promotional intensity have contributed to higher churn rates. While Verizon’s financial adjustments, like slight changes in capex and free cash flow, maintain the full-year outlook, these factors collectively support the Hold rating, reflecting a cautious yet stable perspective on the stock’s near-term performance.
According to TipRanks, Griffiths is an analyst with an average return of -8.1% and a 50.00% success rate. Griffiths covers the Communication Services sector, focusing on stocks such as AT&T, Telus, and Verizon.
In another report released on March 24, J.P. Morgan also maintained a Hold rating on the stock with a $47.00 price target.