Verizon Stock Downgraded as Telecom Price Wars Heat Up
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Buckle up, telecom investors. Investing in this industry is about to get a whole lot more interesting.
According to a new note just out on StreetInsider.com, investment banker Nomura Instinet is cutting its rating on U.S. telecom giant Verizon Communications (NYSE: VZ), downgrading the stock from buy to neutral and assigning a new price target of $65.
Source Fool.com
