These Analysts Raise Their Forecasts On Verizon After Upbeat Q2 Results

Core Insights - Verizon Communications Inc. reported better-than-expected second-quarter financial results, with adjusted earnings of $1.22 per share, surpassing market estimates of $1.19 per share, and quarterly sales of $34.50 billion, exceeding expectations of $33.57 billion [1] Financial Performance - Total Verizon Business revenues were $7.3 billion, reflecting a decline of 0.3% year-over-year [2] - Total Verizon Consumer revenue increased by 6.9% year-over-year to $26.6 billion [2] - Consumer wireless retail postpaid churn was recorded at 1.12%, while wireless retail postpaid phone churn was at 0.90% [2] Future Guidance - For FY25, Verizon reiterated a growth forecast of 2.0%-2.8% in wireless service revenue [2] - The company narrowed its adjusted EPS outlook from a range of $4.59-$4.73 to $4.64-$4.73, compared to the consensus estimate of $4.68, driven by demand for higher-tier plans [2] Stock Performance - Verizon shares gained 4% to close at $42.49 following the earnings announcement [3] - Analysts adjusted their price targets for Verizon after the earnings report [3] Analyst Ratings - JP Morgan analyst Philip Cusick maintained a Neutral rating on Verizon and raised the price target from $47 to $49 [5] - Morgan Stanley analyst Benjamin Swinburne maintained an Equal-Weight rating and increased the price target from $47 to $48 [5]