Why Investors Were Hanging Up on Verizon Stock Today

Telecom giant Verizon Communications (NYSE: VZ) was looking somewhat diminished on the penultimate trading day of the week, at least on the stock exchange. The company's share price took a more-than 2% hit on Thursday "thanks" to the move of one analyst tracking its fortunes. This was contrasted by the S&P 500 index having a slightly upbeat session, ultimately closing 0.2% higher on the day.Well before the opening of Thursday's market action, KeyCorp's Brandon Nispel changed his recommendation on Verizon's stock to sector weight (hold, in other words) from his previous overweight (buy). Nispel did not set a price target. Not coincidentally, the analyst's move comes mere days after Verizon reported its third-quarter results. According to reports, Nispel pointed out that the performance of the big telecom for the period was below his expectations. Looking forward, he said that there is little room for significant improvement in earnings before interest, taxes, depreciation, and amortization (EBITDA). Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool