Market Overview

How The Street Responded To AT&T's Mega-Deal For Time Warner

Share:
How The Street Responded To AT&T's Mega-Deal For Time Warner

There are at least two things most analysts covering telecomms share in respect to AT&T Inc. (NYSE: T)'s move to buy Time Warner Inc (NYSE: TWX).

The first is about the challenges in getting the regulatory approval given the experience of Comcast Corporation (NASDAQ: CMCSA)–NBC deal. However, the New York Times' Jim Stewart gave a 98 percent chance of regulatory approval.

The second is the downgrading of Time Warner and AT&T shares, with most of them now at Neutral/Hold ratings.

Related Link: Telecomms: The Most Interesting Sector Going Into Earnings

The following brokerages have made changes in respect of Time Warner:

  • Credit Suisse downgraded from Buy to a Neutral rating but boosted target price from $90 to $107.50.
  • MKM Partners downgraded from Buy to a Neutral rating.
  • Goldman Sachs remove Time Warner from Conviction Buy List and downgraded to a Neutral.
  • Moffett Nathanson downgraded from Buy to a Neutral rating.
  • Atlantic Equities downgraded from Overweight to Neutral.
  • RNC Capital Markets from Outperform to Sector Perform rating.
  • Evercore ISI Group downgraded from Buy to a Neutral rating.
  • Loop Capital maintains a Buy rating and lifted price objective from $96 to $107.50.

The following brokerages have made changes in respect of AT&T:

  • Cowen & Co. downgraded from Outperform to Market Perform.
  • Drexel Hamilton downgraded from Buy to a Hold rating.
  • Wunderlich maintains Buy rating.

At Last Check ...

  • AT&T was down 1.88 percent at $36.78.
  • Time Warner was down 2.53 percent at $87.22.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for CMCSA

DateFirmActionFromTo
Sep 2019UpgradesPerformOutperform
Aug 2019ReinstatesOutperform
Jul 2019MaintainsOverweight

View More Analyst Ratings for CMCSA
View the Latest Analyst Ratings

Posted-In: Analyst Color M&A News Downgrades Price Target Analyst Ratings Movers Trading Ideas Best of Benzinga

 

Related Articles (CMCSA + T)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
IINDoughertyAssumes34.0
PNRJefferiesInitiates Coverage On
YYUBSUpgrades
ROKUOppenheimerMaintains155.0
IPHIBank of AmericaMaintains80.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

John Legere Unleashes Tweetstorm Following T-Mobile Earnings Beat

Stock Index Futures Trading Higher