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A number of stock research firms have changed their ratings and price targets for AT&T (NYSE: T) during the last seven days:

  • AT&T had its price target raised by analysts at Macquarie from $32.00 to $35.00.
  • AT&T was upgraded by analysts at Morgan Stanley from a “market perform” rating to a “buy” rating. They now have a $41.00 price target on the stock. They wrote, “definitive agreement” where AT&T will acquire DIRECTV in a stock and cash transaction for $95.00, based on AT&T’s Friday closing price. The $95.00 price represents a 70/30 equity cash split of $66.50 per share in AT&T equity and $28.50 per share in cash. The deal is expected to close within a year subject to DOJ, FCC and shareholder approval. Raymond James remarked that shares will likely trade at a discount due to the approximate 12-month time frame and the potential regulatory overhang. Louthan wrote, “We believe the broadband carrot Washington is so enamored with will get it over the line, given that AT&T has agreed to build high-speed internet to an additional 15 million homes as part of the transaction, will continue to offer DirecTV on a standalone basis for at least three years, and will offer a minimum 6 mbps standalone broadband offering where it has it today (which we can demonstrate is a perfectly acceptable throughput for OTT). There will still be three traditional video providers (DISH + Cable) in almost all overlapping markets, plus nascent OTT options further improving the odds of a favorable ruling.”
  • AT&T had its “outperform” rating reaffirmed by analysts at Credit Suisse. They now have a $41.00 price target on the stock, up previously from $39.00.
  • AT&T was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating.
  • AT&T had its “outperform” rating reaffirmed by analysts at Zacks. They now have a $2.50 price target on the stock. Zacks‘ analyst wrote, “We are initiating coverage of Bellus Healthcare, Inc. (TSX: BLU) with a Buy rating and a $2.50 price target. Bellus’ lead candidate, Kiacta is in a confirmatory Phase 3 trial for the treatment of AA Amyloidosis, a complication of a number of inflammatory diseases that leads to kidney damage and end stage renal disease, of which there is no cure. The confirmatory Phase 3 trial is expected to be fully enrolled by the second quarter of 2014. We anticipate results from this study will become available mid to late 2016. Bellus has an additional clinical stage candidate, Shigamab , ready to begin Phase 2 testing for the treatment of STEC-related Hemolytic Uremic Syndrome (sHUS).”
  • AT&T had its price target raised by analysts at Hudson Square Research from $37.00 to $39.00. They now have a “hold” rating on the stock.
  • AT&T had its price target raised by analysts at ING to $39.00.

AT&T Inc. (NYSE:T) opened at 35.50 on Wednesday. AT&T Inc. has a 52-week low of $31.74 and a 52-week high of $37.17. The stock’s 50-day moving average is $35.67 and its 200-day moving average is $34.37. The company has a market cap of $184.2 billion and a P/E ratio of 10.61. AT&T also saw a large decrease in short interest in April. As of April 30th, there was short interest totalling 185,900,383 shares, a decrease of 5.7% from the April 15th total of 197,159,869 shares. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 29,145,466 shares, the days-to-cover ratio is currently 6.4 days.

AT&T Inc (NYSE:T), is a holding company.

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