Credit Suisse Reiterates a Buy Rating on AT&T Inc.

By Ryan Adsit

In a report released yesterday, Robert Peters from Credit Suisse reiterated a Buy rating on AT&T Inc. (NYSE: T), with a price target of $47. The company’s shares opened today at $36.79.

Peters noted:

“We believe this reflects continued heightened handset promotion environment which has helped drive gross additions. The increase subsidies were offset by the impact of premium tab plans, which we believe helped drive +4% ARPU growth vs. our +2% estimate.”

According to TipRanks.com, Peters is a 1-star analyst with an average return of -3.0% and a 23.1% success rate. Peters covers the Services sector, focusing on stocks such as Thomson Reuters Corp, DHX Media Ltd, and DHI Group.

Currently, the analyst consensus on AT&T Inc. is Moderate Buy and the average price target is $44.25, representing a 20.3% upside.

In a report issued on October 24, Oppenheimer also maintained a Buy rating on the stock with a $46 price target.

Based on AT&T Inc.’s latest earnings report from June 30, the company posted quarterly revenue of $40.52B and quarterly net profit of $3.41B. In comparison, last year the company earned revenue of $39.09B and had a net profit of $2.99B.

Based on the recent corporate insider activity of 173 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of T in relation to earlier this year. Most recently, in July 2016, John Stankey, the CEO?AT&T Entertainment Group of T sold 2,131 shares for a total of $92,448.