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Verizon price target raised to $49 from $47 at JPMorgan

JPMorgan raised the firm’s price target on Verizon (VZ) to $49 from $47 and keeps a Neutral rating on the shares. The firm “meaningfully” reduced its Q3 postpaid phones expectations and now models flat subs in Q3 with 2025 Consumer phone losses of 50,000 with each driven by higher churn. Overall, JPMorgan raised Q3 consolidated EBITDA estimates as well on better Business and lower Corporate drag, with Consumer unchanged.

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