From MarketWatch:

Wolfe Research analyst Peter Supino has upgraded Verizon Communications Inc. to outperform from peer perform, citing a favorable risk-reward balance. Despite recent struggles in the telecommunications industry, including Verizon and AT&T showing losses over the past five years, Supino sees stable and underrated industry economics, with potential for decreased capital expenditures and leverage, improved sales growth, and increased consensus view for 2024. He also notes that competition fears and financial management have been less severe than expected, and he is bullish on Verizon’s individual story, as well as the industry as a whole. Verizon’s stock ended 0.5% higher in Thursday’s session after the upgrade.



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