AT&T Stock Rating Reaffirmed by JPMorgan Chase & Co. (T)
AT&T (NYSE:T)‘s stock had its “overweight” rating reiterated by JPMorgan Chase & Co. in a research note issued on Thursday, AR Network reports. They currently have a $38.00 price target on the stock, down from their previous price target of $40.00. JPMorgan Chase & Co.’s price objective points to a potential upside of 11.86% from the company’s current price.
The analysts wrote, “We are updating our 3Q estimates as a result of the earlier than expected iPhone release and plenty of expected supply compared to last year, as well as faster postpaid and U-Verse adds. We raise our postpaid net adds to 400k from 300k and our 3Q upgrade rate goes to 8.5% from 7.0%, and as a result wireless EBITDA margins goes to 41.0%. In wireline we raise U-Verse video adds to 225k from 200k but take margins to 29.0% from 29.5% on more aggressive promotions, and EPS to $0.64. For 2014, we expect AT&T to face increasing competition in the wireless industry, particularly from Sprint, and we lower our wireless EBITDA margin estimate to 40.8% and EPS to $2.66 accordingly. We maintain our Overweight rating but reduce our YE2014 price target to $38 from $40.”
A number of other firms have also recently commented on T. Analysts at Macquarie upgraded shares of AT&T (NYSE:T) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 3rd. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of AT&T (NYSE:T) in a research note to investors on Thursday, August 22nd. They now have a $36.00 price target on the stock. Finally, analysts at Telsey Advisory Group cut their price target on shares of AT&T (NYSE:T) from $38.00 to $36.00 in a research note to investors on Thursday, August 22nd. They now have a “not rated” rating on the stock.
One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $36.80.
AT&T (NYSE:T) traded up 0.82% during mid-day trading on Thursday, hitting $34.25. 5,319,782 shares of the company’s stock traded hands. AT&T has a 52 week low of $32.71 and a 52 week high of $39.00. The stock’s 50-day moving average is $34.49 and its 200-day moving average is $35.99. The company has a market cap of $181.9 billion and a P/E ratio of 26.01.
AT&T (NYSE:T) last released its earnings data on Tuesday, July 23rd. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.68 by $0.01. The company had revenue of $32.10 billion for the quarter, compared to the consensus estimate of $31.81 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts predict that AT&T will post $2.49 earnings per share for the current fiscal year.
AT&T Inc (NYSE:T) is a holding company.
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