shares received a boost Wednesday from MoffettNathanson analyst Craig Moffett, who lifted his rating on the telecom giant to Buy from Neutral and changed his price target on the stock to $66 from $59.
His core thesis is that with the stock trading at just half of the broader market’s price/earnings ratio,
shares (ticker: VZ) are “simply too cheap.”
Moffett isn’t exactly a raging bull on Verizon, but he does see room for the stock to gain ground from here, even as the company continues to lose market share to
(TMUS), which he continues to recommend. He also maintains his Sell rating on
(T), which he sees as losing market share to both of its rivals and which is hampered by considerable leverage.
Moffett notes that T-Mobile’s combination