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NEW YORK (TheStreet) -- Verizon Communications' (VZ) - Get Verizon Communications Inc. Report price target was upped to $58 from $50 by analysts at RBC Capital Markets in a note released to investors today. 

The firm reiterated its "outperform" rating on the stock.

Separately, around 2 million New York state residents with Verizon landlines were overcharged $1,000 to $1,500 each over the last few years, according to the New Networks Institute, the New York Post reported on Monday.

This comes as as New York's Public Service Commission begins an investigation into whether the company takes appropriate care of its copper-wire network.

While the company will cooperate with the state probe, it denied the New Networks Institute's allegations of overcharging, the Post added. 

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Shares closed Wednesday's trading session down 0.02% to $54.04.

Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of A+.

The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, notable return on equity, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Recently, 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' author.

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

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