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Verizon receives downgrades

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Verizon receives downgrades

Analysts at FBR Capital, Raymond James and RBC Capital downgraded Verizon Communications Inc., according to separate Jan. 25 reports by TheFly.com.

FBR Capital analyst David Dixon and Raymond James analyst Frank Louthan lowered Verizon to "market perform" from "outperform" on the company's "lackluster" fourth-quarter 2016 results and "weak" growth outlook. The price target on the company's shares was lowered by Dixon to $52 from $57.

Further, RBC Capital analyst Jonathan Atkin cut Verizon's rating to "sector perform" from "outperform," while noting that the company's 2017 fundamentals look "challenging." Price target on the company's shares was lowered to $51 from $54.