Verizon Communications Rating Lowered to Hold at HSBC [telecom]

Verizon Communications was downgraded by investment analysts at HSBC from a "buy" rating to a "hold" rating in a research report issued on Thursday, December 14th, Marketbeat reports. They presently have a $42.80 price objective on the cell phone carrier's stock, down from their prior price objective of $54.83. HSBC's price objective would suggest a potential downside of 19.53% from the company's current price. The analysts noted that the move was a valuation call.

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Bill Horne
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