Raymond James Reiterates Market Perform Rating on AT&T (T)

October 9, 2020 7:45 AM EDT
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Price: $28.15 +0.50%

Rating Summary:
    13 Buy, 28 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Raymond James analyst Frank Louthan reiterated a Market Perform rating on AT&T (NYSE: T) following a report in the WSJ that AT&T's WarnerMedia is planning a restructuring to reduce costs by up to 20%. This follows 500 previous job cuts at Warner Bros. Studios in August and similar layoffs from film and entertainment rivals NBCU (Comcast) and Disney in recent months.

Raymond James currently estimates FY20 revenue will be $29.3 billion for Warner Media, compared to the street at $30.1 billion, with $8.4 billion estimated EBITDA, compared to the street at $7.9 billion.

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 $28.64 yesterday.



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