AT&T Inc. (NYSE:T) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $43.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.69% 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.”

A number of other equities research analysts have also weighed in on the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $42.00 price objective on shares of AT&T in a research report on Sunday, July 9th. Vetr upgraded AT&T from a “buy” rating to a “strong-buy” rating and set a $41.56 price objective on the stock in a research report on Monday, July 10th. BidaskClub upgraded AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of AT&T in a research report on Wednesday, June 28th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $43.00 price objective on shares of AT&T in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $43.84.

Shares of AT&T (NYSE T) traded down 0.584% during mid-day trading on Wednesday, reaching $38.275. The company had a trading volume of 13,069,974 shares. The firm has a market capitalization of $70.62 billion, a PE ratio of 18.054 and a beta of 0.49. AT&T has a 12-month low of $35.10 and a 12-month high of $43.03. The stock has a 50 day moving average price of $37.87 and a 200 day moving average price of $38.46.

AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion for the quarter, compared to analyst estimates of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. On average, equities analysts forecast that AT&T will post $2.94 earnings per share for the current year.

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Large investors have recently made changes to their positions in the business. HL Financial Services LLC raised its stake in shares of AT&T by 3.3% in the second quarter. HL Financial Services LLC now owns 540,916 shares of the technology company’s stock worth $23,373,000 after purchasing an additional 17,231 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of AT&T by 5.1% in the fourth quarter. Guggenheim Capital LLC now owns 2,689,906 shares of the technology company’s stock worth $114,401,000 after purchasing an additional 131,629 shares during the last quarter. ING Groep raised its stake in shares of AT&T by 72.3% in the third quarter. ING Groep now owns 587,913 shares of the technology company’s stock worth $19,148,000 after purchasing an additional 246,626 shares during the last quarter. Bollard Group LLC raised its stake in shares of AT&T by 1.1% in the second quarter. Bollard Group LLC now owns 451,190 shares of the technology company’s stock worth $19,496,000 after purchasing an additional 4,776 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new position in shares of AT&T in the second quarter worth $35,829,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

About AT&T

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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