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AT&T Inc (NYSE: T) recently reported mixed results for its fourth quarter, amid stiff competition from Verizon Communications Inc. (NYSE: VZ).
The company’s execution in the wireless and broadband businesses has been consistent, and both segments seem to be poised for strong long-term growth, according to JPMorgan.
The AT&T Analyst: Richard Choe upgraded the rating for AT&T from Neutral to Overweight, while raising the price target from $18 to $21.
The AT&T Thesis: The company’s broadband business is likely to be supported by its ongoing fiber build, “along with incremental opportunities in and out of existing markets,” Choe said in the upgrade note.
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Full story available on Benzinga.com
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