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Analyst- Verizon Pullback a Buying Opportunity

According to Jefferies, yesterday’s pullback in Verizon (NYSE:VZ) is a buying opportunity. According to the firm, providing 2014 guidance might have delayed the Feb. 21 Vodafone transaction closing. The firm holds its Buy rating with a $55 price target.

Pacific Crest downgraded the stock to Sector Perform from Outperform due to increased competition that will likely impact EBITDA margins.

Verizon finished the day 1.3 percent lower to close at $47.70. The pullback, which started in November around $51 represents a roughly 50 percent retracement from the October spike in the stock. Watch for the stock to stabilize.

Disclosure: At the time of this writing, Tim Parker had no position in the company mentioned.

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