Raymond James Reiterates Market Perform Rating on AT&T (T)
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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.
Shares of AT&T closed at $28.64 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Popular stocks with increasing volume: SNAP MRNA LVS CLF T AAL
- UPDATE: Talkspace (TALK) on Watch on Chatter
- Freenet AG (FNTN:GR) (FRTAF) PT Lowered to EUR23.30 at HSBC
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesRaymond James, Layoffs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!