Market Overview

Pivotal Research Group Reiterates Hold Rating, $32 PT on AT&T

Related T
Benzinga's M&A Chatter for Wednesday July 30, 2014
Top Performing Industries For July 30, 2014
Tech Rewind: Amazon Slides, Facebook Goes Mobile (Fox Business)

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.

Posted-In: Pivotal Research GroupAnalyst Color Reiteration Analyst Ratings

 

Most Popular

Related Articles (T)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters