Price Target Update on Verizon Communications (NYSE:VZ)

Verizon Communications (NYSE:VZ) : The consensus price target for Verizon Communications (NYSE:VZ) is $52.63 for the short term with a standard deviation of $3.08. The most optimist securities analyst among the 19 who monitor the stock believes that the stock can reach $56, however, the pessimist price target for the company is $42.

Other Equity analysts have also commented on the company shares. Brokerage firm Barclays maintains its rating on Verizon Communications (NYSE:VZ). As per the latest information, the brokerage house raises the price target to $52 per share from a prior target of $51. The shares have been rated Equal-weight. The rating by the firm was issued on April 18, 2016.

Verizon Communications (NYSE:VZ): stock turned positive on Thursday. Though the stock opened at $54.4, the bulls momentum made the stock top out at $54.68 level for the day. The stock recorded a low of $54.2 and closed the trading day at $54.67, in the green by 1.18%. The total traded volume for the day was 12,329,937. The stock had closed at $54.03 in the previous days trading.

The company shares have rallied 13.89% from its 1 Year high price. On Jun 21, 2016, the shares registered one year high at $54.49 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $51.41 and the 200 Day Moving Average price is recorded at $50.15. On the companys insider trading activities, Silliman Craig L., officer (EVP of PubPolicy & Gen Counsel) of Verizon Communications Inc, unloaded 672 shares at an average price of $49.8 on May 26, 2016. The total amount of the transaction was worth $33,466, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Verizon Communications Inc. (Verizon) is a holding company that, acting through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless. Wireless communications products and services include wireless voice and data services and equipment sales, which are provided to consumer, business and government customers across the United States. Wirelines voice, data and video communications products and services include broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services and local and long distance voice services. Verizon provides these products and services to consumers in the United States, as well as to carriers, businesses and government customers both in the United States and around the world.

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