Barclays Raises Estimates and Price Target on AT&T (T); iPhone Launch Should Help Momentum Continue

Barclays maintains an 'Equalweight' on AT&T (NYSE: T) price target raised $1 to $32.00.

Analyst, Jam es M. Ratcliffe, said, "Following a generally good 1Q12, we are raising our 2013 EPS to $2.60 from $2.53...While management is clearly working to address subsidy costs going forward, we expect a 4Q12 iPhone (Nasdaq: AAPL) launch to generate another surge of upgrade activity (and related cost)."

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 $31.74 yesterday.

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