Is Verizon Overvalued?

Verizon Communications VZ, first discussed here on February 12, 2009, at a price of $29.86, has pushed through $30 resistance with room to spare, and one could make the argument that VZ is overvalued at this stage. But that's not the argument favored here. Look for slow growth/dividend play Verizon to post a 2% to 2.5% revenue gain in 2011, after flatish revenue in 2010, with data services being the key revenue increase driver. Meanwhile, Verizon's landline business continues to provide revenue stability. Verizon's cell phone subscriber additions should lead the sector, but competition may hurt overall subscription prices. The much-sought addition of Apple's AAPL iPhone smartphone will provide a subscriber tailwind. Continue reading the article.