Verizon price target raised to $48 from $45 at BofA

BofA raised the firm’s price target on Verizon (VZ) to $48 from $45 and keeps a Neutral rating on the shares after the company reported strong Q4 consumer post-paid phone net additions, provided “constructive” guidance for 2026 and “alleviated fears of an emerging price war.” The firm, which increased its estimates to account for the closing of the Frontier acquisition and the updated guidance, notes that the most material changes include lower capex, higher free cash flow, lower wireless service revenue growth, inclusion of a multi-year buyback, and higher postpaid phone net additions.