Nomura Securities Maintains a 'Buy' on AT&T (T); Still Attractive

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

Nomura analyst, Mike McCormack, said, "Despite wireless service revenue having decelerated at a seemingly rapid pace, and enterprise spending apparently functioning at stall speed, we continue to see AT&T shares as an attractive investment opportunity. We believe patient investors will be rewarded for owning T shares ahead of improving wireline revenue trends, stabilization of wireless revenue growth and improving wireless profitability. We have adjusted our 2011 EPS estimate to $2.37 from $2.40. While our estimates have been lowered to reflect the continued difficult spending environment, we remain optimistic that high margin enterprise revenue will return to growth in 2012."

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 $30.28 yesterday.

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