Why Verizon Fell Today
Shares of (NYSE: VZ) fell on Monday, down as much as 8.1%, before recovering to a 5.8% decline as of 1:54 p.m. EDT.
There was a spate of news for Verizon today. First, the company announced it would spin off its international enterprise-focused operations into a joint venture with BT Group (OTC: BTGO.F), while also announcing headcount reductions and severance charges as part of its own cost-cutting initiatives.
Additionally, rival and partner Comcast (NASDAQ: CMCSA) announced its intentions to separate its broadband and mobile services from its NBCUniversal and Sky media properties. There was also a report over the weekend that Space Exploration Technologies (NASDAQ: SPCX) was in discussions with Charter Communications (NASDAQ: CHTR) to use its terrestrial network for a mobile phone service.
Source Fool.com
Verizon Communications Inc. Stock
With 11 Buy predictions and not the single Sell prediction the community is currently very high on Verizon Communications Inc..
As a result the target price of 43 € shows a slightly positive potential of 11.47% compared to the current price of 38.58 € for Verizon Communications Inc..
