Verizon upgraded to Outperform from Sector Perform at Scotiabank

Scotiabank analyst Maher Yaghi upgraded Verizon (VZ) to Outperform from Sector Perform with a price target of $54.50, up from $50.25, after meeting with management. Verizon’s momentum on both subscriber loading and cost improvement looks “strong,” the analyst tells investors in a research note. Scotiabank expects further cost reductions in 2027 and 2028. Price cuts, combined with lower churn in wireless and growth in broadband, position Verizon to report better revenue growth, contends the firm. It views the shares as “cheap” at current levels.