Telecommunications giant Verizon (VZ) - Get Verizon Communications Inc. Report could see its stock reach $51, but going above that could prove challenging, BTIG Research analyst Walter Piecyk said in a note today, Barron's says.
"The set-up for Verizon's stock is very tempting to take a shot on the long side," Piecyk said. The analyst argues that there is nothing specifically negative dogging the company at the moment.
He added that a potential merger between Verizon rivals T-Mobile US (TMUS) - Get T-Mobile US, Inc. Report and Sprint (S) - Get SENTINELONE, INC. Report could be a positive for the company as it will add more stability to the wireless industry.
Shares of Verizon were rising by 1.68% to $46.08 on Tuesday morning.
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