Forwarded from Serg Udutov
#vz
🇺🇸 Shares of the American telecommunications company Verizon Communications Inc. (VZ) hit 7-year lows and are being quoted at $43.52.
📊 The sale of shares intensified against the backdrop of a weak quarterly report. So, in the second quarter, the company earned $33.79 billion, which only slightly exceeded the consensus estimate of $33.74 billion, but earnings per share amounted to $1.31, down from $1.35 a quarter earlier. Apparently, the company's management does not really want to share profits with shareholders.
🧐 Against the backdrop of weak performance, analysts from the financial holding Morgan Stanley assessed the growth prospects of Verizon Communications Inc. as weak and advised investors to refrain from buying the company's shares. Analysts at MoffettNathanson also downgraded the company's rating to undermarket, adjusting its target price from $55 to $41.
📉We recommend shorting VZ shares with a target of $38.
🇺🇸 Shares of the American telecommunications company Verizon Communications Inc. (VZ) hit 7-year lows and are being quoted at $43.52.
📊 The sale of shares intensified against the backdrop of a weak quarterly report. So, in the second quarter, the company earned $33.79 billion, which only slightly exceeded the consensus estimate of $33.74 billion, but earnings per share amounted to $1.31, down from $1.35 a quarter earlier. Apparently, the company's management does not really want to share profits with shareholders.
🧐 Against the backdrop of weak performance, analysts from the financial holding Morgan Stanley assessed the growth prospects of Verizon Communications Inc. as weak and advised investors to refrain from buying the company's shares. Analysts at MoffettNathanson also downgraded the company's rating to undermarket, adjusting its target price from $55 to $41.
📉We recommend shorting VZ shares with a target of $38.