Piper Jaffray Reiterates Overweight Rating, $40 PT on AT&T Ahead of TMT Conference

In a report published Friday, Piper Jaffray reiterated its Overweight rating and $40.00 price target on AT&T

. Piper Jaffray noted, “AT&T's Steve Caniano, VP of Cloud Strategy and Business Development will be doing a keynote address to kick off the Piper Jaffray TMT conference on March 12. In a fireside chat, we'll discuss what the largest telco in the US has planned for cloud hosting, collocation and all things datacenter oriented. With a global reach and connections to millions of American consumers and businesses, learn how AT&T is going to leverage the cloud and those connections to drive more value from its network. What AT&T does in the cloud is sure to influence and impact other large cloud providers like Amazon Web Services, Rackspace, Microsoft and HP, as well as other telcos, smaller cloud players, software developers and equipment suppliers. The keynote will begin at 8:30 AM on March 12th.” AT&T closed on Thursday at $35.91.