AT&T Posts Mixed Q3, These Analysts Expect Pricing To Improve
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Shares of AT&T Inc (NYSE:T) came under pressure in early trading on Thursday, after it reported third-quarter results.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Oppenheimer analyst Timothy Horan maintained an Outperform rating, while lifting the price target from $23 to $24.
- Scotiabank analyst Maher Yaghi reiterated an Outperform rating and price target of $24.
- RBC Capital Markets analyst Jonathan Atkin reaffirmed a Sector Perform rating and price target of $22.
- Morgan Stanley analyst Simon Flannery maintained an Equal-Weight rating and price target of $19.
Check out other analyst stock ratings.
Oppenheimer: AT&T’s service revenues grew by 4.0% year-on-year, which accelerated versus the first half of this year, driven mostly by ARPU (average revenue per user) growth and a one-time item, Horan said in a note. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) grew 3.4% with margins up 140 basis points (bps) to 38.3%, he added.
“We think T, and the entire wireless industry, would be major …
Full story available on Benzinga.com
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