BNP Paribas Exane Downgrades Verizon Communications (VZ) to Neutral

​Verizon Communications Inc. (NYSE:VZ) is one of the Most Undervalued Long Term Stocks to Buy Right Now. On October 21, Sam McHugh from BNP Paribas Exane downgraded Verizon Communications Inc. (NYSE:VZ) from Outperform to Neutral with a price target of $44.

​The company on October 6, had appointed Dan Schulman as Chief Executive Officer to replace Hans Vestberg. Dan Schulman is the former CEO of PayPal. Analyst Sam McHugh noted that this change in leadership has raised questions about the company’s strategy and its ability to defend the company’s share. This is because this move comes at a time when Verizon Communications Inc. (NYSE:VZ) is faced with net losses in its postpaid phone subscriber base and also faces tougher competition.

​Moreover, the analyst also noted that his firm has had a simplistic view of the sector for the past few years and has advised investors to own wireless over cable.

​Verizon Communications Inc. (NYSE:VZ) is a holding company that offers communications and technology services through its subsidiaries.

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Disclosure: None. This article is originally published at Insider Monkey.