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Actionable news in VZ: VERIZON COMMUNICATIONS,

Verizon (VZ) Stock Lower on Ratings Downgrades

NEW YORK (TheStreet) -- Verizon Communications (VZ - Get Report) stock is down by 2.61% to $52.12 in late-afternoon trading on Thursday, following a rating downgrade to "market perform" from "outperform" at Bernstein earlier today.

The firm hiked its price target to $55 from $54.

Although the company's fundamentals remain "largely unchanged," Verizon is becoming increasingly "eccentric," which seems to be negatively impacting investors' view of the company's future, Bernstein wrote in a note, according to Barron's.

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