Verizon price target raised to $49 from $48.50 at Scotiabank

Scotiabank analyst Maher Yaghi raised the firm’s price target on Verizon (VZ) to $49 from $48.50 and keeps a Sector Perform rating on the shares. The company’s postpaid subscriber loading was one of the weakest prints in the past few years, pressured by higher churn and lower year-over-year gross loading dynamics, the analyst tells investors. While prepaid trends improved, postpaid subscriber growth remains “elusive,” the firm adds. The company remains well positioned to grow in the coming years, but a clear improvement in subscriber trends is needed for the stock to outperform its peers.