Verizon enjoys a boost from Wall Street upgrade
- Verizon stock jumps 3.1% after upgrade from KeyBanc Capital Markets
- Analysts expect 2024 to be one of the best years for Verizon
- Verizon’s growth in earnings expected to rise above 2% in 2024
- Verizon currently trades at historically low levels
- Postpaid-phone subscriber growth expected to continue at above average pace
- Lack of competitive intensity in the sector is a reason behind the upgrade
Shares of Verizon Communications jumped 3.1% after KeyBanc Capital Markets upgraded the telecom firm to Overweight from Sector Weight. Analysts expect 2024 to be one of the best years for Verizon, with growth in earnings projected to rise above 2%. The stock currently trades at historically low levels and is expected to continue its postpaid-phone subscriber growth at an above average pace. The lack of competitive intensity in the sector is another reason behind the upgrade.
Public Companies: Verizon Communications (VZ), Apple (AAPL), Moderna (MRNA), T-Mobile US (TMUS), AT&T (T)
Private Companies:
Key People: Brandon Nispel (Analyst)
Factuality Level: 7
Justification: The article provides information about stock upgrades and downgrades on Wall Street, specifically mentioning Verizon Communications. It cites KeyBanc Capital Markets’ upgrade of Verizon shares and provides details about the company’s growth prospects and current valuation. The article also mentions the performance of other stocks like Moderna and Apple. Overall, the information provided seems to be based on analyst opinions and market trends, but it lacks in-depth analysis or additional sources to support the claims made.
Noise Level: 3
Justification: The article provides a brief analysis of stock upgrades and downgrades on Wall Street, specifically focusing on Verizon Communications. It mentions the reasons behind KeyBanc Capital Markets’ upgrade of Verizon shares and provides some information on the company’s growth prospects. However, the article lacks depth and does not provide much evidence or data to support its claims. It also does not offer any actionable insights or solutions for the reader. Overall, the article contains some relevant information but lacks in-depth analysis and supporting evidence.
Financial Relevance: Yes
Financial Markets Impacted: Verizon Communications, Apple, Moderna, T-Mobile US, AT&T
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses stock upgrades and downgrades on Wall Street, specifically mentioning the upgrade of Verizon Communications by KeyBanc Capital Markets. This information is relevant to financial markets and companies. There is no mention of any extreme events.
www.marketwatch.com 
