Morgan Stanley Lifts Verizon Price Target to $50 After Q1 EPS Beat
Morgan Stanley raised its price target for Verizon to $50 from $49 while maintaining a Positive rating and hold recommendation as shares traded around $47.10. Verizon reported Q1 adjusted EPS of $1.28 topped forecasts, raised full-year earnings growth guidance to 5-6%, and added 55,000 postpaid phone and 341,000 broadband subscribers.
1. Morgan Stanley Raises Price Target and Rating
Morgan Stanley increased its price target for Verizon to $50 from $49 and upheld a Positive rating while issuing a hold recommendation at approximately $47.10, reflecting confidence in earnings potential but cautious valuation sentiment.
2. Q1 Earnings Beat and Guidance Lift
Verizon delivered adjusted Q1 EPS of $1.28, surpassing analyst forecasts, and raised its full-year adjusted earnings growth outlook to a 5-6% range, even as revenue of $34.4 billion fell about $490 million short of consensus.
3. Subscriber Additions Highlight Growth
The telecom added 55,000 postpaid phone net subscribers—the first positive Q1 phone net additions since 2013—and signed up 341,000 broadband customers, driven by fixed wireless access expansion and synergies from the Frontier acquisition.