AT&T’s “Neutral” Rating Reiterated at Zacks (T)
AT&T (NYSE:T)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Tuesday. They currently have a $36.00 price objective on the stock. Zacks‘s target price points to a potential upside of 4.32% from the company’s current price.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on AT&T. The company is likely to witness strong momentum in both its Wireline and Wireless businesses. Continued strength in the smartphone business owing to the mobile share plan is driving the wireless business. Wireline is also improving on consistent enhancement of the U-verse and strategic services. Further, AT&T is the leading provider of WiFi (wireless broadband) connectivity, which is also a key growth driver. The company also expects to complete its LTE deployment by 2014, which could add to its network strength. However, the company faces several limitations in the wireless spectrum division and recently received a restriction from the Federal Communications Commission (FCC) regarding substantial airwave acquisitions in the upcoming auction. On the financial front, promotional costs associated with the Project Velocity IP (VIP) and Agile pose major impediments to the company’s growth trajectory.”
Shares of AT&T (NYSE:T) traded up 0.15% on Tuesday, hitting $34.5625. The stock had a trading volume of 6,178,766 shares. AT&T has a 52-week low of $31.74 and a 52-week high of $37.48. The stock’s 50-day moving average is $35.34 and its 200-day moving average is $34.80. The company has a market cap of $179.2 billion and a price-to-earnings ratio of 10.14.
AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The company reported $0.62 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.03. The company had revenue of $32.60 billion for the quarter, compared to the consensus estimate of $33.41 billion. During the same quarter last year, the company posted $0.67 earnings per share. Analysts expect that AT&T will post $2.60 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie raised their price target on shares of AT&T from $1.00 to $38.00 in a research note on Thursday, July 31st. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of AT&T in a research note on Thursday, July 24th. They now have a $35.00 price target on the stock, up previously from $34.00. Finally, analysts at RBC Capital cut their price target on shares of AT&T from $37.00 to $36.00 in a research note on Thursday, July 24th. They now have a “sector perform” rating on the stock. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. AT&T currently has an average rating of “Hold” and an average price target of $36.81.
AT&T Inc (NYSE:T), is a holding company.
To view Zacks’ full report, visit Zacks’ official website.
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