AT&T (T) PT Estimates, PT Lowered at Canaccord Genuity on Weak Wireline
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Rating Summary:
20 Buy, 29 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 7 | New: 39
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Canaccord Genuity analyst Greg Miller trimmed his price target on Hold-rated AT&T (NYSE: T) to $34.00 (from $35.00) following results after the close.
“AT&T reported results after the close with continued weakness in wireline that was partially offset by strength in wireless (subscribers), with strength in phone growth," Miller said.
He added, "Postpaid net additions of 785k were slightly better than expected, especially given porting trend comments from T-Mobile. With more competition that should continue, it is probable that wireless growth will continue to slow and that competitor gains will come at a cost to AT&T and others."
The analyst lowered his 2014 and 2015 Annual EPS estimates to $2.56 and $2.54, respectively. He lowered his 2014 Annual Revenue estimate to $132.4M and made no change to his 2015 Annual Revenue estimate of $133.4M.
For an analyst ratings summary and ratings history on AT&T click here. For more ratings news on AT&T click here.
Shares of AT&T closed at $34.50 yesterday.
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