Key Stats for Verizon Stock

• Current Price: $41.65
• Target Price (Mid): ~$70
• Street Target: ~$51
• Potential Total Return: ~67%
• Annualized IRR: ~13% / year

Now Live: Discover how much upside your favorite stocks could have using TIKR’s new Valuation Model (It’s free) >>>

What Happened?

“I do not see it as a viable competitor in the medium and even longer term,” Verizon Communications (VZ) CEO Dan Schulman said of satellite on September 9. After the October 8 close, SpaceX (SPCX) agreed to buy Grain Management’s nationwide 800 MHz spectrum, a deal still pending FCC approval.

On October 9, Verizon closed at $41.65, down 10.14%. About $0.71 of the $4.70 decline reflects the 70.75-cent quarterly dividend,…