BNP Paribas Exane Adjusts Verizon and Hormel Targets Amid Mixed Outlook

Key Facts

Amid shifting dynamics in the telecommunications and consumer staples sectors, BNP Paribas Exane has adjusted its price targets for Verizon Communications and Hormel Foods. The bank lowered its target for Verizon (VZ) from $46.00 to $44.00 while maintaining a neutral rating, citing competitive pressures from Starlink. Conversely, the price target for Hormel Foods (HRL) was raised from $26.00 to $27.00 following a Q2 earnings performance that exceeded analyst estimates.

The reduction for Verizon comes despite a recent EPS beat, as market sentiment remains wary of satellite-based internet competition disrupting traditional telecom moats. For Hormel Foods, the marginal increase reflects improved margin resilience compared to peers like Tyson Foods, which have faced more volatile input costs per market data. According to EL7 data, VZ closed at $42.68 (close July 13, 2026), while HRL stood at $24.73 (close July 10, 2026).

Traders should watch Verizon's recent low of $42.35 as a key technical support level in the near term. While the upcoming economic calendar does not feature direct corporate catalysts for these instruments within the next week, broader market sentiment will likely be influenced by the U.S. Initial Jobless Claims report scheduled for July 16, which could impact valuation multiples for large-cap dividend payers.