Jefferies Maintains a 'Hold' on AT&T (T); iPhone Impact Q3 vs Q4

Jefferies maintains a 'Hold' on AT&T (NYSE: T) price target of $38.00.

Analyst, Thomas Seitz, said, "We believe the iPhone 5 (Nasdaq: AAPL) release could be the largest consumer product launch in history. While the exact date of the iPhone's arrival is not certain, press speculation centers on a Sept. 12 announcement and Sept. 21 release. In this note we analyze the potential impact to our 3Q and 4Q estimates, although we will not officially change our numbers until the iPhone launch date is confirmed." (Maintains current qtr EPS at $0.66, FY at $2.45 and next year at $2.69)

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 $36.82 yesterday.

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