Citi Upgrades AT&T (T) to Buy

(Updated - September 2, 2015 8:32 AM EDT)

Citi upgraded AT&T (NYSE: T) from Neutral to Buy. Analysts see opportunity given market volatility and recent weakness in shares.

"We are upgraded AT&T shares to Buy as we believe the recent weakness (down almost 11% from its recent closing high on 6/25) provides a near-term value opportunity and does not reflect: 1) improving dividend coverage with upside potential from DTV merger-related synergies; 2) breathing room in wireless after Verizon backed off some of its aggressive promotions and AT&T increased wireless subscriber fees; and 3) consensus EPS remains too low for 2016 based on our unchanged forecast, even after the company's analyst meeting," said Citi.

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 $32.32 yesterday.

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