Verizon price target lowered to $45 from $49 at BofA

BofA analyst Michael Funk lowered the firm’s price target on Verizon (VZ) to $45 from $49 and keeps a Neutral rating on the shares following results that the firm calls “better than feared” on consumer post-paid phone net loss, messaging on using price as a tool to gain share and dividend sustainability. The firm trimmed its 2026 free cash flow multiple to account for execution risk as Verizon undertakes restructuring and renews marketing efforts.