Oppenheimer Maintains an 'Outperform' on AT&T (T); Lowering Estimates on Higher Smartphone Sales; Most Negatives May Be Behind
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Price: $24.89 +1.26%
Rating Summary:
25 Buy, 27 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
25 Buy, 27 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer maintains an 'Outperform' on AT&T (NYSE: T) price target of $35.00.
Oppenheimer analyst says, "Last week AT&T announced that the company is on track to break its single-quarter smartphone sales record. We are accordingly increasing our FY11/FY12 smartphone sales forecast, and are adjusting our estimates downward. Net-net, we are lowering our FY11 and FY12 EPS estimates to $2.21 (from $2.30) and $2.36 (from $2.45) to account for higher subsidies. Positively, we believe subsidy expense growth is peaking for the company, and although at best we see flat wireless margins in 2012, we believe there could be upside to our 2013 forecast."
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 $29.04 yesterday.
Oppenheimer analyst says, "Last week AT&T announced that the company is on track to break its single-quarter smartphone sales record. We are accordingly increasing our FY11/FY12 smartphone sales forecast, and are adjusting our estimates downward. Net-net, we are lowering our FY11 and FY12 EPS estimates to $2.21 (from $2.30) and $2.36 (from $2.45) to account for higher subsidies. Positively, we believe subsidy expense growth is peaking for the company, and although at best we see flat wireless margins in 2012, we believe there could be upside to our 2013 forecast."
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 $29.04 yesterday.
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