Press "Enter" to skip to content

KeyBanc Remains Cautious On AT&T Despite Rating Upgrade

  • KeyBanc analyst Brandon Nispel upgraded AT&T Inc (NYSE: T) to Sector Weight from Underweight without a price target. 
  • It appears more difficult to justify further downside from current levels given simplification of the business, reduced leverage, and peers that trade at premiums, Nispel notes. 
  • The analyst cautions that he does not recommend owning AT&T and see a modest downside but thinks further downside might support a more favorable risk/reward.
  • AT&T trades at a forward P/E multiple of 8.3x versus Verizon Communications Inc (NYSE: VZ) at 9.6x, PT Telkom Indonesia (Persero) Tbk (NYSE: TLK) at 15.2x, Orange SA (NYSE: ORAN) at 8.5x, and Telefonica SA (NYSE: TEF) at 10.6x.
  • Price Action: T shares traded higher by 0.99% at $25.55 in the premarket session on the last check Thursday.

Latest Ratings for T

Date Firm Action From To
Oct 2021 Keybanc Upgrades Underweight Sector Weight
Oct 2021 Barclays Maintains Equal-Weight
Oct 2021 MoffettNathanson Upgrades Sell Neutral

View More Analyst Ratings for T

View the Latest Analyst Ratings

This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *