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AT&T’s 5G, Broadband Growth Strategies Lead Analyst To Bullish Outlook

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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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