Telecom giant Verizon Communications Inc. ( VZ ) on Monday caught a big upgrade from analysts at UBS.
The firm said it boosted its rating on VZ from "Neutral" to "Buy" with a $42 price target. That target suggests a nearly 19% upside to the stock's Friday closing price of $35.35.
UBS noted the stock has an attractive valuation offers solid growth potential.
Verizon shares rose 78 cents, or +2.2%, in premarket trading Monday.
The Bottom Line
We have been recommending shares of Verizon ( VZ ) since Oct.10, 2008, when the stock was trading at $25.93. The company has a 5.66% dividend yield, based on Friday's closing stock price of $35.35.
Verizon Communications Inc. ( VZ ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.7 out of 5 stars.
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