Why Verizon Stock Fell 6% in the First Half of the Year
Shares of Verizon (NYSE: VZ) were lagging the market once again in the first half of the year as a combination of underwhelming quarterly results, rising interest rates that make short-term bond yields more competitive, and a surge in tech stocks from interest in artificial intelligence all left the telecom stock in the dust.
According to data from S&P Global Market Intelligence, the stock fell 6% in the first six months of the year, significantly underperforming the S 500, which gained 15.9%.
As you can see from the chart below, the stock headed steadily lower over most of the first half of the year.
Source Fool.com
Verizon Communications Inc. Stock
With 20 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 42 € shows a slightly positive potential of 10.8% compared to the current price of 37.91 € for Verizon Communications Inc..