2024-03-26 22:11:55 ET
Summary
- Verizon stock has rebounded from 52-week lows and has future upside potential.
- The stock's correlation with the Fed Funds Rate suggests it could rise as interest rates drop.
- Earnings estimates show some growth, and paying down debt could create long-term value for shareholders.
Verizon Communications ( VZ ) is a U.S. based communications company and a giant in the industry. A few months ago, this stock was making 52-week lows and trading at what seemed to be highly irrational levels. The selling pressure seemed to be a culmination of events that took place late last year, which included tax-loss selling, fears over liabilities from lead cables , as well as concerns over a significant debt load. The company is being sued for lead based cables and it still has a significant debt load, but the stock has rebounded from the lows it reached and it appears to have plenty of future upside....
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Verizon: Poised For Strong Upside After The Fed Cuts Rates