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8 Telecom Stocks That Could Rise

6. Verizon Communications (VZ - Get Report) provides communications services in two main segments: domestic wireless and wire line. The company provides these products and services to consumers in the U.S. and over 150 other countries worldwide.

For the first quarter of 2011, the company recorded 51 cents in diluted earning per share, vs. 16 cents in the first quarter of 2010. On a consolidated basis, total operating revenue improved 0.3% to $27 billion with wireless revenue increasing 6.3% and data revenue rising 22.3%. Retail postpaid ARPU in the wireless segment increased 2.2% year over year, while retail postpaid data ARPU climbed 17.3%.

The company recently declared a quarterly dividend of 48.75 cents per share, payable on Aug. 1. Under its new agreement with Tata Communications (TCL), Verizon announced that it would extend the range of its immersive video, or telepresence, offering to enable virtual face-to-face collaboration in more locations around the world.

Of the 35 analysts covering the stock, 40% rate it a buy and 54% rate it a hold. On average, analysts surveyed by Bloomberg have a $38.29 12-month price target on the stock, which is about 7.4% higher than recent levels.

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