Nomura Securities maintains a 'Buy' on AT&T (T); Review of 1Q Results

Nomura Securities maintains a 'Buy' on AT&T (NYSE: T), PT $34.

Nomura analyst, Mike McCormack, says, "With 62K postpaid net additions, and ARPU exceeding expectations, AT&T’s wireless business beat expectations of a meaningful share loss to the Verizon iPhone. We now expect full-year net postpaid adds of 472K, versus our prior estimate of 166K. With AT&T likely positioned for improving margins in both the wireless and wireline segments, and with expectations low, we continue to recommend incremental investment in AT&T. We are adjusting our 2011 and 2012 EPS estimates to $2.40 and $2.58, from $2.39 and $2.56 previously."

For more ratings news on AT&T click here and for the rating history of AT&T click here.

Shares of AT&T closed at $30.13 yesterday.

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