Verizon Upgraded to 'Sector Outperform' at Scotiabank

Scotiabank raises price target for cell phone carrier's stock

Published on Mar. 9, 2026

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Scotiabank has upgraded Verizon Communications (NYSE:VZ) from a 'sector perform' rating to a 'sector outperform' rating and increased the price target for the company's stock from $50.25 to $54.50. The firm cited Verizon's strong performance and growth potential in the wireless market.

Why it matters

This upgrade from a major investment bank signals increased confidence in Verizon's ability to outperform the broader sector. As one of the largest wireless carriers in the U.S., Verizon's performance is seen as an indicator of broader trends in the telecom industry.

The details

In its research note, Scotiabank highlighted Verizon's solid financial results and growth in its consumer and business segments. The firm believes Verizon is well-positioned to capitalize on the continued demand for wireless services and 5G network deployments.

  • Scotiabank issued the upgrade and price target increase on Monday, March 9, 2026.

The players

Verizon Communications

A major U.S. telecommunications company that provides a broad range of communications and information services, including wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions.

Scotiabank

A Canadian multinational bank and financial services company that provides a wide range of banking and investment services.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

This upgrade from Scotiabank reflects the growing confidence in Verizon's ability to maintain its leadership position in the wireless market and capitalize on the ongoing shift towards 5G technology. As one of the largest telecom providers in the U.S., Verizon's performance will continue to be closely watched by investors and industry analysts.