Jefferies Starts AT&T (T) at Hold
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Price: $37.44 +0.16%
Rating Summary:
5 Buy, 26 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
5 Buy, 26 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade T Now!
Jefferies initiates coverage on AT&T (NYSE: T) with a Hold. PT $33.00.
The firm said while valuation versus Verizon looks compelling, they prefer to remain on the sidelines for a number of reasons. One of those reasons is regarding the ultimate resolution of AT&T'S proposed acquisition of T-Mobile US.
On the AT&T/T-Mobile pending merger the analyst commented "At best, the transaction makes it through the Department of Justice’s anti-trust challenge but still faces, in our view, potentially significant operating concessions to gain FCC approval. At worst, the merger is blocked by either Judge Huvelle in the DoJ process or by the FCC on public interest grounds – requiring the company to pay a break-up fee estimated in excess of $6 billion in cash, spectrum and a data roaming agreement. Net-net, back to square one . . . and poorer"
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 $28.78 yesterday, with a 52 week range of $27.20-$31.94.
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The firm said while valuation versus Verizon looks compelling, they prefer to remain on the sidelines for a number of reasons. One of those reasons is regarding the ultimate resolution of AT&T'S proposed acquisition of T-Mobile US.
On the AT&T/T-Mobile pending merger the analyst commented "At best, the transaction makes it through the Department of Justice’s anti-trust challenge but still faces, in our view, potentially significant operating concessions to gain FCC approval. At worst, the merger is blocked by either Judge Huvelle in the DoJ process or by the FCC on public interest grounds – requiring the company to pay a break-up fee estimated in excess of $6 billion in cash, spectrum and a data roaming agreement. Net-net, back to square one . . . and poorer"
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 $28.78 yesterday, with a 52 week range of $27.20-$31.94.
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