Oppenheimer Increases 2012/13 EPS Estimates on AT&T
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Oppenheimer increased EPS estimates on AT&T for 2012 and 2013 to $2.39 (from $2.35) and $2.60 (from $2.53). The major improvement at AT&T was its ability to improve margins by 200bp in 2012, which was helped by the huge increase in smartphone penetration in the last 2 years.
AT&T is the largest wireline services provider in the U.S., and the second largest wireless provider. It also has the strongest balance sheet in the industry and an attractive FCF/dividend yield.
Oppenheimer has a $35 price target on AT&T and an OUTPERFORM rating.
With a target price of $35, the stock would trade at 13.5x Oppenheimer’s 2013 EPS estimate versus 12x currently, which represents roughly a 10% discount to the historical market multiple.
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 $31.72 yesterday.
AT&T is the largest wireline services provider in the U.S., and the second largest wireless provider. It also has the strongest balance sheet in the industry and an attractive FCF/dividend yield.
Oppenheimer has a $35 price target on AT&T and an OUTPERFORM rating.
With a target price of $35, the stock would trade at 13.5x Oppenheimer’s 2013 EPS estimate versus 12x currently, which represents roughly a 10% discount to the historical market multiple.
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 $31.72 yesterday.
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