TD Cowen cuts Verizon stock price target to $55 on SPCX concerns
TD Cowen has adjusted its price target on Verizon Communications Inc. (NYSE:VZ) to $55 from $56, maintaining a Buy rating for the stock. Analyst Gregory Williams highlighted Verizon's strong third-quarter 2026 performance, including significant phone additions and increased guidance. The telecommunications giant reported a beat for the quarter ending in September 2026, resulting in a stock price of $43.39, which is well below the $55 target.
The broader analyst consensus points to an 18% upside potential. Verizon offers a dividend yield of 6.57%, and has raised dividends for 22 consecutive years, according to InvestingPro. Management remains confident about potential competition, and the company has secured AI Connect contract wins and plans for renewed millimeter wave spectrum deployment.
Despite these positive developments, TD Cowen cites SPCX-related competitive pressures as a concern for the stock's performance. The stock is currently undervalued, according to InvestingPro analysis, and is listed among the platform's most undervalued stocks. Investors can access a Pro Research Report on Verizon, along with seven additional ProTips, exclusively on InvestingPro.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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