Raymond James Upgrades AT&T (T) to Outperform on Valuation and De-Levering

March 15, 2019 4:10 AM EDT
Get Alerts T Hot Sheet
Price: $28.19 +0.28%

Rating Summary:
    12 Buy, 29 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 13 | New: 31
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(Updated - March 15, 2019 7:33 AM EDT)

(updated to add analyst comments)

Raymond James analyst Frank Louthan upgraded AT&T (NYSE: T) from Market Perform to Outperform with a price target of $34.00.

  • outlook for positive earnings growth
  • strong de-levering story
  • AT&T trades at a discount to Verizon of ~3x turns of EPS and FCF, with a 250 bp higher dividend yield
  • "We believe that the combination of positive earnings growth and de-levering over the course of the year will bring investors back to AT&T."

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 $30.28 yesterday.

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