These Analysts Raise Their Forecasts On Verizon Following Better-Than-Expected Q2 Earnings

Verizon Communications Inc. (NYSE: VZ ) on Friday reported better-than-expected second-quarter earnings, while revenue narrowly missed expectations.

Adjusted earnings came in at $1.30 per share, above the analyst consensus estimate of $1.27, according to Pro.

Revenue totaled $34.25 billion, missing the $35.11 billion estimate.

GAAP diluted earnings per share fell 22% year over year to 92 cents, while net income declined 22.9% to $3.9 billion.

Verizon raised its full-year adjusted EPS guidance to a range of $4.99 to $5.04 from its previous forecast of $4.95 to $4.99.

The updated outlook is above the analyst consensus estimate of $4.96.

Verizon shares gained 2.6% to trade at $126.56 on Monday.

These analysts made changes to their price targets on Verizon following earnings announcement.

Barclays analyst Kannan Venkateshwar maintained the stock with an Equal-Weight rating and raised the price target from $45 to $46.

Wells Fargo analyst Steven Cahall maintained the stock with an Equal-Weight rating and raised the price target from $43 to $47.

Scotiabank analyst Maher Yaghi maintained the stock with a Sector Outperform and boosted the price target from $51.5 to $52.5.

RBC Capital analyst Jonathan Atkin maintained the stock with a Sector Perform and raised the price target from $46 to $47.

Considering buying VZ stock? Here’s what analysts think: Photo via Shutterstock