3 Reasons to Buy Verizon Stock While It's Down by Nearly Half
It's been a tough past three years for Verizon Communications (NYSE: VZ) shareholders. The stock price is down 40% from its late-2020 highs, bouncing back slightly from a new multiyear low reached just last month. The wireless market's saturation and the subsequent sales slowdown are anything but inspirational.
This stock's steep sell-off, however, is a buying opportunity. The foreseeable future isn't likely to look a whole lot like the recent past. Indeed, Verizon's got three things going for it now that aren't being factored into the stock's price. In no particular order:
Most broadband internet connections in the United States utilize a cable television company's or phone company's existing lines, although fiber optic connections are becoming relatively common as well. There's a fourth viable option, however, that's coming on strong. That's fixed wireless access (FWA).
Source Fool.com
Verizon Communications Inc. Stock
The stock is one of the favorites of our community with 24 Buy predictions and 1 Sell predictions.
With a target price of 41 € there is a slightly positive potential of 7.71% for Verizon Communications Inc. compared to the current price of 38.07 €.