Analysts Are Cutting Price Targets of These 5 Stocks

In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Cutting Price Targets of These 10 Stocks.

05. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 59

Verizon Communications Inc. (NYSE:VZ), commonly known as Verizon, is an American multinational telecommunication conglomerate. In the first quarter of 2023, the telecommunications firm reported an increase of 633,000 subscribers. On July 26, investment analysts at Raymond James revised the price target for Verizon Communications Inc. (NYSE:VZ) from $51 to $42. The research report also reaffirmed the brokerage’s outperform rating on the cell phone carrier’s stock. According to Raymond James’ target price, there is a potential upside of around 22% from Verizon Communications Inc. (NYSE:VZ) current price. This adjustment in the price target suggests that the analysts at Raymond James have reevaluated their outlook for Verizon Communications Inc. (NYSE:VZ) valuation, resulting in a more conservative target compared to their previous assessment. However, despite the reduction in the target price, the analysts still maintain a positive stance on the stock, expecting it to outperform the market.