Bank of America Comments on Verizon During Strike

Bank of America has published a report on Verizon Communications Inc VZ as the strike among the company's employees continues. In the report, Bank of America wrote, "This is a stock market environment unforgiving of uncertainty in our view, but historical precedent would suggest that the long-term implications of labor unrest in the group is modest. Assuming Verizon is prepared for the action, a strike can ultimately strengthen its bargaining position as time passes." Bank of America rated Verizon a Neutral with a price target of $36.00. Verizon closed Friday at $35.05.