AT&T Inc. (NYSE:T) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $43.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 19.91% from the company’s current price.
According to Zacks, “AT&T is planning to spread its 5G technology trials to three new cities – Waco, Kalamazoo, South Bend by 2017 end. Deployment of G. fast based services complements its high-speed broadband services. AT&T’s NetBond is gearing up to offer multiple cloud-to-cloud connections. The company is targeting customers by offering a combo of wireless and video services. Meanwhile, AT&T is reportedly exploring a strategic option to sell a major part of its Latin American pay-TV operations. AT&T has unveiled its own Android tablet, Primetime. The AT&T-Time Warner pending deal awaits nod from Brazil and United States. However, AT&T operates in a competitive and saturated wireless U.S. market. Losses in access lines, operating expenses, marketing costs associated with attractive discounts, regulatory norms and union issues are other major risks. Over the past three months, the stock grew 4.5% as against the industry's 5.3% gain.”
Several other brokerages have also issued reports on T. Vetr lowered shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 target price for the company. in a research report on Friday, October 6th. Morgan Stanley boosted their target price on shares of AT&T from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 27th. BidaskClub upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Robert W. Baird restated an “outperform” rating and set a $43.00 target price on shares of AT&T in a research report on Thursday, September 21st. Finally, Jefferies Group LLC restated a “buy” rating and set a $48.00 target price on shares of AT&T in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.53.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The firm had revenue of $39.84 billion during the quarter, compared to analyst estimates of $39.84 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis.
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Institutional investors have recently added to or reduced their stakes in the stock. Ullmann Financial Group Inc. purchased a new stake in AT&T during the first quarter valued at $101,000. Feltz Wealth PLAN Inc. purchased a new stake in AT&T during the first quarter valued at $104,000. Taylor Wealth Management Partners raised its stake in AT&T by 0.4% during the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after purchasing an additional 11 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in AT&T during the first quarter valued at $109,000. Finally, Sterling Investment Advisors Ltd. raised its stake in AT&T by 289.1% during the first quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after purchasing an additional 2,024 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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