Verizon price target raised to $48 from $44 at RBC Capital

RBC Capital raised the firm’s price target on Verizon (VZ) to $48 from $44 and keeps a Sector Perform rating on the shares after its Q4 earnings beat. Verizon’s turnaround vision includes material opex and capex cost-cutting, aiming at higher free cash flow while growing the postpaid subscriber base and returning $25B via share repurchases, the analyst tells investors in a research note.