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Jefferies reiterates a Buy rating on Verizon (VZ +0.6%), believing the company likely benefited...

Jefferies reiterates a Buy rating on Verizon (VZ +0.6%), believing the company likely benefited from high numbers of customers upgrading cell phone plans because of the new iPhone 4S and faster 4G phones. Considering AT&T’s recent remarks about record quarterly smartphone sales, particularly iPhone sales, Jefferies suspects something similar happened for VZ in the quarter.
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