Verizon: shares hit by Morgan Stanley downgrade

(CercleFinance.com) - Shares in Verizon are down 2% after Morgan Stanley downgraded the US telecom giant from "overweight" to "equal weight," saying that "good news is priced in".


Verizon's stock has appreciated 11% year-to-date (+15% including the dividend), outperforming the S&P 500 index by 12.6% and AT&T shares by 35%, Morgan Stanley says in a note.

Moreover, the broker says it expects "limited" 5G home revenues in 2019 as Verizon awaits standards based equipment around the middle of the year.

The broker maintains its target price of 58 dollars for the share.

Verizon shares are currently down 2% at 57.7 dollars.



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