Scotiabank Cuts Verizon Communications (VZ) Price Target to $50

Scotiabank maintains its Sector Outperform rating on Verizon with a new price target of $50, a 11.64% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 1:58 PM EDT

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Scotiabank cut its price target on Verizon Communications Inc. ($VZ) to $50 from $51.50 on October 9, 2026, and rates the stock "Sector Outperform".

Since the rating, $VZ is up 7.5% after 1 week and up 7.5% to date (from the $41.65 close on Oct 9, 2026).

VZ Verizon Communications Inc.

$44.79 +17.90% year to date

Daily close · Oct 16, 2026

Key Points

On October 9, 2026, Scotiabank reiterated its Sector Outperform rating on Verizon Communications Inc. with a price target of $50.
Scotiabank's $50 price target implies 11.64% upside from Verizon Communications Inc.'s ($VZ) current $44.78 share price.
Verizon's shares recently traded around $44.78, which is about 10.4% below the analyst's target and 13.4% lower than the 52-week high.
The company has a P/E ratio of 11.56 and a dividend yield of 6.37%, with its next earnings report scheduled for October 26, 2026.

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Verizon Communications Inc. (NYSE: VZ) received a reaffirmation of its Sector Outperform rating from Scotiabank on October 9, 2026. The firm set a new price target of $50, down from a prior target of $51.50. This adjustment comes as the stock trades at $44.78 as of October 16, 2026.

Scotiabank's Call on Verizon

Scotiabank maintained its Sector Outperform rating on Verizon while lowering its price target from $51.5 to $50. The stock's recent performance shows it is trading below both its 50-day and 200-day moving averages, which are $47.88 and $46.60, respectively. Furthermore, the stock is approximately 10.4% below the analyst's target price and 13.4% below its 52-week high of $51.68.

Other Institutional Activity in Verizon

Several other institutional investors have also adjusted their positions in Verizon. Blackrock Inc. grew its holdings by 30,179,042 shares, bringing its total to 398,216,158 shares valued at about $17.83 billion. Meanwhile, Charles Schwab Investment Management, Inc. added 14,839,678 shares, ending with 127,774,822 shares worth approximately $5.72 billion. In contrast, Vanguard Capital Management LLC reduced its stake by 1,196,888 shares, resulting in a total of 258,996,106 shares valued at about $11.60 billion. State Street Corporation also cut its holdings, down by 5,177,988 shares, totaling 209,676,274 shares worth around $9.39 billion.

Verizon Communications Inc. Stock Up 0.8%

As of October 16, 2026, Verizon's stock is trading at $44.78, which is below its 50-day moving average and 200-day moving average by 6.5% and 3.9%, respectively. The stock is currently 16.6% above its 52-week low of $38.39, but it remains below the mean price target of $51.24 set by analysts. This positioning suggests some caution from investors as they await the upcoming earnings report.

12-month forecast

$VZ price target

Verizon Communications Inc. daily closes and this analyst's $50 target. Not advice.

Recent Earnings

Verizon reported a trailing twelve-month revenue of approximately $138.89 billion, with an earnings per share (EPS) of $3.84. The company has faced challenges, reflected in a year-over-year revenue growth rate of -0.7%. Its next earnings report is scheduled for October 26, 2026, which could provide further insights into its financial health.

Insider Buying and Selling at Verizon Communications Inc.

Insider transactions at Verizon show activity from Kyle Malady, an officer at the company. Malady sold 1,100 shares on October 6, 2026, at an average price of $45.75, totaling about $50,325. Earlier, he sold shares on September 29 at $46.40, totaling around $51,040, and on September 22 at $47.65, worth about $52,415. His transactions indicate a pattern of selling shares leading up to the current date.

Analysts Set New Price Targets

On October 9, 2026, Scotiabank reiterated its Sector Outperform rating on Verizon with a new target of $50, down from $51.50. Earlier, on October 2, the firm maintained the same rating with a target of $51.5. The consensus among 22 analysts gives Verizon a buy recommendation with a mean price target of approximately $51.24.

About Verizon Communications Inc.

Verizon Communications Inc. provides a wide range of communication and technology services to consumers, businesses, and government entities. It operates through two main segments: the Verizon Consumer Group and the Verizon Business Group. Given the recent analyst ratings and adjustments, the company is navigating a competitive landscape in the telecom industry.

Bottom Line

Investors should watch for Verizon's next earnings report on October 26, 2026, to gauge its financial performance amid current market conditions. With Scotiabank's recent rating adjustments and other institutional activity, the stock's trajectory will be of interest as it continues to trade below key moving averages.