Why Verizon Stock Sank Today
(NYSE: VZ) stock lost ground in Tuesday's trading. The telecom giant's share price ended the daily session down 6.6%, and had been off as much as 8.4% earlier in trading.
Verizon stock moved lower today following cautious guidance from the company. Management expects that subscriber growth will be pressured in the near term, and investors sold shares in response.
Competition for new wireless subscribers continues to be intense, and Verizon says that the dynamic will likely lead to soft subscriber growth this quarter. Speaking at the Deutsche Bank Media, Internet Telecom Conference, Verizon chief revenue officer Frank Boulben said that Verizon had cut back on aggressive promotional campaigns from the fourth quarter -- but other players in the space had continued to aggressively pursue subscriber additions.
Source Fool.com
Verizon Communications Inc. Stock
With 14 Buy predictions and not the single Sell prediction the community is currently very high on Verizon Communications Inc..
As a result the target price of 43 € shows a positive potential of 28.0% compared to the current price of 33.6 € for Verizon Communications Inc..
