Morgan Stanley Trims 2Q EPS For AT&T

In a report published Thursday, Morgan Stanley analyst Simon Flannery reiterated an Equal-Weight rating on AT&T T. In the report, Morgan Stanley noted, “Our full year numbers are largely unchanged, although revenue growth rises from 4.0% to 4.8%. The biggest impact is a cut to 2Q14 service revenues, wireless EBITDA and EPS, largely offset by increases in equipment revenues, net adds and margins in 2H14. Our 2Q14 EPS estimate is now 62 cents, versus consensus of 68 cents and 2Q13 EPS of 67 cents. Our full year EPS drops to $2.65 versus consensus of $2.66 and pour prior estimate of $2.69.” AT&T closed on Wednesday at $35.05.