UPDATE: Canaccord Reiterates Hold Rating, Raises PT for AT&T

In a report issued earlier today, Canaccord Genuity reiterated its Hold rating for AT&T Inc. T, but raised its price target from $29.00 to $32.00. Canaccord went on to say in the report “Despite AT&T's better than expected operating performance in the face of increased competition, we continue to rate the stock a HOLD with the belief that the two largest carriers will become a source of funds with an improving market. Given its relatively surprising wireless performance, we believe AT&T will likely perform better than others in the near term.” AT&T Inc. closed yesterday at $31.72.