Why Verizon Is One of Our Top Defensive Picks In 2026

By Vandita Jadeja Published May 15, 9:08AM EDT

Quick Read

Verizon (VZ) is trading at $47.21 with a 24/7 Wall St. price target of $55.18, implying 16.87% upside, supported by Q4 2024 revenue of $35.68B, postpaid phone net adds of 568,000 (best in over a decade), FWA revenue up 51.6% YoY to $611M, and free cash flow of $19.82B comfortably covering a 5.86% dividend yield.
The stock benefits from three catalysts: the pending Frontier Communications acquisition expanding fiber footprint, FWA subscriber growth targeting 8-9M by 2028 from 4.6M today, and valuation at a forward P/E near 10 relative to market multiples.
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Why Verizon Is One of Our Top Defensive Picks In 2026 — © photobyphm / iStock Editorial via Getty Images

Our Verizon (NYSE:VZ | VZ Price Prediction) call is straightforward: the stock is undervalued, the dividend is well covered, and the model points to meaningful upside over the next 12 months. With shares trading at $47.21 as of May 13, 2026, our 24/7 Wall St. price target for Verizon is $55.18, implying 16.87% upside. Our recommendation is buy with a 90% confidence level, which we consider high.

An infographic titled 'VZ - NYSE 12-Month Price Prediction' by 24/7 Wall St. The top section shows an arrow indicating a price increase from $47.21 to a target of $55.18, representing a +16.87% return, with a 'BUY' recommendation and 90% confidence. Below, a section 'HOW WE GOT THERE' lists Trailing P/E-Based Price ($47.21), Forward P/E-Based Price ($47.23), Analyst Consensus ($51.85), and Weighted Base Price ($48.61). The 'OUR ADJUSTMENTS' section visualizes the change from $48.61 to $55.18, citing factors like Low Volatility Premium, Earnings Growth Momentum, Analyst Bullishness, and Price Position Strength. The 'BULL CASE' section, on a green background, outlines three positive points: Pending Frontier acquisition expands fiber footprint, FWA growth targeting 8-9M subs by 2028 (currently ~4.6M), and Strong Free Cash Flow covers 5.86% dividend, with a Bull Case Target of $57.54 (+21.88% total return). The 'BEAR CASE' section, on a red background, lists three negative points: High total debt of $144.0B, Continued decline in Business wireline revenue (-8.0% YoY in Q4), and Higher promotional costs pressuring Consumer margins, with a Bear Case Target of $48.66 (+3.08% total return). The bottom line reiterates 'BUY → $55.18 (+16.87%)'.

24/7 Wall St. Price Target Summary

Metric	Value
Current Price	$47.21
24/7 Wall St. Price Target	$55.18
Upside	16.87%
Recommendation	BUY
Confidence Level	90%

A Quiet Rerating Has Already Begun

Verizon has been one of the better-performing defensive names in 2026. Shares are up 19.73% year to date and 18.19% over the past year, with the stock recovering sharply from a $39.36 low in January 2026 to within striking distance of the $50.91 52-week high.

The most recent earnings report (Q4 2024) showed revenue of $35.68 billion, beating expectations, alongside EPS of $1.10 in line with estimates. The standout was operations: 568,000 postpaid phone net adds, the best in over a decade, and FWA revenue of $611 million, up 51.6% YoY.

The Case for $57+

Bulls focus on three catalysts. First, the pending Frontier Communications acquisition meaningfully expands Verizon’s fiber footprint and gives it a credible converged offering against cable.

Second, FWA is on a tear, with management targeting 8 to 9 million subscribers by 2028 versus roughly 4.6 million today.

Third, free cash flow of $19.82 billion in 2024 comfortably covers the 5.86% dividend yield. Our bull case scenario points to $57.54, a 21.88% total return. Insider confidence supports the read: senior executives including CEO Hans Vestberg and CFO Anthony Skiadas have been steady buyers through March and April 2026.

The Risks Worth Watching

The bear case centers on the $144 billion debt load and continued declines in legacy business wireline, which fell 8% YoY in Q4. Higher promotional spend is also pressuring consumer margins. Our bear case scenario points to $48.66, still a positive 3.08% total return when factoring the dividend. It should be noted that the high debt reflects multi-year C-Band buildout that is now monetizing through FWA, and capex already fell from $18.77 billion in 2023 to $17.09 billion in 2024.

Verizon Price Prediction 2026-2030

The 24/7 Wall St. price target stands at $55.18 with a buy rating and 90% confidence. The tipping factor is valuation: at a forward P/E near 10, you are getting a defensive cash flow machine for less than the market multiple. The setup favors investors seeking yield plus modest capital appreciation. Key risks to monitor include a sharp spike in rates or a collapse of the Frontier deal.

Year	24/7 Wall St. Price Target
2026	$55.18
2027	$62.08
2028	$67.47
2029	$72.47
2030	$77.49

These projections assume Verizon executes on FWA, closes Frontier, and holds dividend coverage. Significant upside or downside could come from interest rate moves or a competitive break in wireless pricing.

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About the Author Vandita Jadeja →

Vandita Jadeja is a financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis. She has contributed to several publications, including the Joy Wallet, Benzinga, The Motley Fool and InvestorPlace.