Verizon Communications Inc. (NYSE: VZ) is considered one of the best telecom stocks to invest in by Raymond James, with an Outperform rating and a price target of $47. The company is focusing on cost-cutting measures to finance customer acquisition and care programs.

Verizon is looking to reduce legacy expenditures by canceling ineffective initiatives like Mobile Edge Compute and Internet of Things emphasis. The company established a new 100G specialized optical ring for Monumental Sports & Entertainment and completed the sale of €2.25 billion and £1 billion in subordinated notes.

While Verizon is a leading provider of technology, entertainment, and communication services globally, some believe that certain AI stocks offer greater upside potential. For those interested in AI investments, a free report on the best short-term AI stock is available.

For more stock recommendations, check out the 10 Best Magic Formula Stocks for 2025 and the 10 Best Retirement Stocks to Buy According to Hedge Funds. This article was originally published on Insider Monkey.

Read more at Yahoo Finance: Raymond James Reaffirms Outperform on Verizon (VZ) Amid High Dividend and Cost-Cutting Strategy