BMO Maintains Outperform on Verizon Communications

BMO is out with its report today on Verizon Communications VZ, maintaining Outperform. In a note to clients, BMO writes, "We rate the stock Outperform, reflecting the company's leading wireless franchise, extensive broadband footprint and potential for improving financial performance in the coming quarters. The long-awaited iPhone is a positive addition to Verizon's wireless franchise as is its move into LTE." BMO maintains a $40 PT on VZ. At the time of posting, shares of VZ were trading pre-market at $37, up 0.33% from Thursday's close.