Verizon: UBS Turns Bullish
UBS analyst John Hodulik this morning raised his rating on Verizon to Buy from Neutral, with a new target of $42, up from $37. The stock closed last week at $35.35.
“We believe Verizon is the best-positioned company in wireless and expect it to gain share given its leading position in 4G,” he writes in a research note. “With the lowest penetration of smartphones, we expect ARPU and service revenue growth to continue to accelerate in the next year while the company maintains industry-high margins.”
Hodulik notes that the company should post double-digit EPS growth for next couple of years; he sees profits of $2.61 a share in 2012, and $3.05 in 2013, up from an expected $2.19 a share this year.
Also tempting: the stock’s 5.7% dividend yield.
VZ this morning is up 93 cents, or 2.6%, to $36.28.
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Article source: http://www.forbes.com/sites/ericsavitz/2011/11/28/verizon-ubs-turns-bullish/
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