NEW YORK (TheStreet) -- Verizon Communications (VZ) shares are up 1% to $49.42 on Tuesday after analysts at BTIG initiated coverage with a "buy" rating and $60 price target.
Analysts at the firm believe that the telecom giant is poised to continue to see revenue growth while expecting competitors in the sector to not fare as well.
"We believe that industry leader Verizon has positioned itself well to sustain some level of revenue growth and deliver EPS in excess of consensus estimates. Conversely, we expect AT&T (T) to face revenue contraction in its core business and report EPS that shows no growth and falls below consensus," said BTIG analysts.
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TheStreet Ratings team rates VERIZON COMMUNICATIONS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIZON COMMUNICATIONS INC (VZ) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, compelling growth in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."