Verizon Communications Inc. (NYSE:VZ) is included among the 15 Best Dividend Leaders to Buy Right Now.
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On March 11, Oppenheimer raised its price recommendation on Verizon Communications Inc. (NYSE:VZ) to $56 from $50. It reiterated an Outperform rating on the shares. The firm said its channel checks suggest Verizon’s subscriber growth share is continuing. The analyst also pointed to strong visibility around the company’s planned $5 billion in expense reductions. Part of those savings is expected to come from a 10% reduction in headcount and lower capital expenditures.
Asset rationalization represents another meaningful area of savings, estimated at about $500 million. The firm also noted expected reductions in spending on third-party vendors and outsourced contractors. Oppenheimer said there could be additional upside from further cost reductions and monetization opportunities if Verizon were to enlist DOX to modernize its OSS/BSS systems.
Verizon Communications Inc. (NYSE:VZ) is a holding company. Through its subsidiaries, the company provides communications, technology, information, and streaming products and services to consumers, businesses, and government entities.
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