Nomura Securities Maintains a 'Buy' on AT&T (T) After Meeting W/ Management

Nomura Securities maintains a 'Buy' on AT&T (NYSE: T).

Nomura analyst, Mike McCormack, said, "After meeting with AT&T senior leadership in Dallas earlier this week, we maintain our bullish view on the stock. The key issues addressed included the T-Mobile deal, which is progressing as expected, and expected operational improvements in both wireless and wireline. AT&T remains our top pick within the Telecom group, with our expectation for upside to consensus estimates and an attractive relative valuation. At current levels, the shares trade at 5.8x our 2011 EBITDA estimate, with 7.3% free cash flow yield and a 5.4% dividend yield."

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 $31.38 yesterday.

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