Morgan Stanley Sees Balanced Outlook for Verizon (VZ)
Verizon Communications Inc. (NYSE:VZ) ranks among the best low volatility stocks to buy according to analysts. With a $47 price target and an Equalweight rating, Morgan Stanley resumed covering Verizon Communications Inc. (NYSE:VZ) on July 10. As the company is trading at a minor discount to its peer group, the firm believes that VZ shares have a balanced risk-reward profile at current prices. This is in line with Morgan Stanley’s projected adjusted EBITDA growth rate of 2-3%.
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The firm presented a bull case price target of $54, which would represent the advantages of faster expansion in the broadband and consumer wireless segments. In this scenario, adjusted EBITDA growth could reach 3-3.5% annually, potentially enabling Verizon Communications Inc. (NYSE:VZ) shares to close the valuation gap with AT&T.
Verizon Communications Inc. (NYSE:VZ) is a leading provider of technology, entertainment, and communication services worldwide. The company offers a range of services through its operational divisions, such as digital TV, high-speed internet, and 5G and 4G wireless connectivity.
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