Pivotal Research Group Reiterates Hold Rating, $32 PT on AT&T
In a report published Friday, Pivotal Research Group reiterated its Hold rating and $32.00 price target on AT&T (NYSE: T).
Pivotal Research Group noted, “AT&T and Verizon both had exceptionally strong quarters for smartphone activations. We are lowering our Q4 EPS estimate to account for the higher subsidies. We are also adding the incremental capex from project VIP for the next three years. Our new Q4 EPS estimate is $0.45 (from $0.57) and our new 2013 EPS estimate is $2.55 (from $2.60). Reiterate HOLD rating and $32 price target.”
AT&T closed on Thursday at $34.20.
Latest Ratings for T
|Jul 2014||JP Morgan||Maintains||Neutral|
|May 2014||Bernstein||Initiates Coverage on||Market Perform|
|May 2014||Raymond James||Upgrades||Market Perform||Outperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.