Close

Jefferies Maintains Bullish View on AT&T (T) Post Q1; Says Revenue Pressures Set To Ease

April 23, 2015 8:13 AM EDT
Get Alerts T Hot Sheet
Price: $17.57 +0.11%

Rating Summary:
    20 Buy, 29 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 10
Join SI Premium – FREE

Jefferies analyst Mike McCormack reiterated a Buy rating and $39 price target on AT&T (NYSE: T) following solid Q1 results. The analyst said revenues pressures are set to ease.

McCormack commented, "AT&T delivered better postpaid adds and churn, with phone only ARPU ahead, and margins beating us by 20bps. Notably, the company sees the low water mark in Y/Y service revenue and ARPU decline rates now passed. Wireline revenue missed, partly driven by F/X, though margins topped our/Street estimates. EPS of $0.63 was in line. DTV synergies were increased by 56%, to $2.5bn. Management maintained capex guidance, and indicated an appetite for ongoing factoring."

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 $32.86 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Jefferies & Co