Telecommunications giant Verizon (VZ) - Get 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 Report and Sprint(S) - Get 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.
Comcast (CMCSA) - Get Report , Netflix (NFLX) - Get Report and Alphabet (GOOGL) - Get Report are just some of the tech names in Jim Cramer's Action Alerts PLUS portfolio. Get his insights on the biggest names in tech here.
Trending stories on TheStreet:
- U.S. Grocer Kroger Has Gone Berzerk Because It's About to Be Invaded by a Ruthless German Rival
- Best Buy Hates That It Is Too Complicated to Buy an $800 Apple iPhone in Its Stores
- Verizon and AT&T Show Silver Linings Despite Recent Underperformance
- Jim Cramer on Amazon, Alphabet, Apple, Nvidia, AutoZone, Buffalo Wild Wings, Micron and Hewlett Packard Enterprise
- Amazon and Walmart Have Joined Forces to Destroy One of Dying Sears' Most Important Businesses
- Tesla Should Applaud This Extreme 1,100 Horsepower Hybrid Mercedes Coming Very Soon