Verizon price target raised to $50 from $48 at Oppenheimer

Oppenheimer analyst Timothy Horan raised the firm’s price target on Verizon (VZ) to $50 from $48 on valuation, while keeping an Outperform rating on the shares. The firm believes Verizon and the wireless sector at large is under-owned and undervalued. The stock is trading at a 50% discount to the S&P 500 on a 2025 price-to-earnings basis and 4-turns the market’s dividend yield of 1.4%, well above its long term averages. Q1 will look weak from a sub growth and churn perspective, which is driving incremental promotional competition. However, Oppenheimer sees this as temporary and thinks Verizon will operate within guardrails to not put guidance at risk.