NEW YORK (TheStreet) -- Shares of Verizon Communications Inc (VZ) are sliding, down 1.6% to $48.29 in early market trading Thursday, after the company was downgraded to "neutral" from "overweight" by analysts at JPMorgan Chase earlier this morning.
The firm cited a lack of significant near-term catalysts, along with its belief that benefits from its AOL (AOL) acquisition may take a few years to materialize.
The firm also upgraded shares of AT&T to "overweight" from "neutral" this morning.
New York City-based Verizon is a holding company that is engaged in delivering broadband and other wireless and wire-line communications services to consumer, business, government, and wholesale customers.
Separately, TheStreet Ratings team rates VERIZON COMMUNICATIONS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIZON COMMUNICATIONS INC (VZ) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."