NEW YORK (TheStreet) -- Shares of Verizon (VZ) - Get Report  were up in late-morning trading on Monday as Drexel Hamilton raised its rating on the stock to "buy" from "hold."

The firm has a $54 price target on shares of the New York City-based telecommunications company. 

Drexel expects Verizon to see earnings accelerate in 2017 as its wireless business returns to revenue growth, Internet of Things acquisitions boost revenue and losses from strategic media investments begin to lessen. 

Verizon last Thursday reported 2016 third-quarter revenue that missed analysts' expectations. Its wireless unit saw revenue decline 3.9% year-over-year.  

The company recently announced three Internet of Things acquisitions in its wireless segment, which should accelerate top-line growth and create synergies as they are integrated, Drexel said. 

The firm added that Verizon's $4.4 billion acquisition of AOL and pending $4.8 billion Yahoo! (YHOO) deal should slow losses in the company's digital media unit. 

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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

The team rates Verizon as a Buy with a ratings score of B. The company's strengths can be seen in multiple areas, such as its expanding profit margins, solid stock price performance and notable return on equity. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: VZ

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