UPDATE: Credit Suisse Upgrades AT&T and Verizon Wireless; Raises PT's

According to a research report published this morning, Credit Suisse has upgraded AT&T

Verizon Wireless

from Neutral to Outperform, and increased PT's from $30 to $36.50 and $38 to $45, respectively. In the report, Credit Suisse said, "We believe wireless carriers' behavior is changing - there are signs across the industry of growing discipline around pricing and subsidies. If this discipline holds, we believe there is upside to margins and earnings growth for all carriers. We believe investors should be Overweight telecom into this trend. Our new estimates for AT&T and Verizon are well above consensus and we are upgrading both to Outperform (from Neutral)." AT&T closed yesterday at $33.13, while Verizon closed at $40.55.