Oppenheimer Keeps a Hold Rating on AT&T Inc

By Jason Carr

Oppenheimer analyst Timothy Horan maintained a Hold rating on AT&T Inc (NYSE: T) yesterday. The company’s shares closed yesterday at $34.35.

Horan said:

“U.S. Leon approved T’s acquisition of TWX, with no conditions, stating the DOJ did not prove the merger would harm competition. The judge also stated he would deny any requests by the DOJ to stay the decision; as such, the companies are free to close the deal even if the ruling is appealed. TWX’s premium content will be integrated in T’s next-gen 5G/video platform to do targeted advertising and to use its own data points to create better, more interactive, content. T expects to close TWX by June 20th. Historically T trades up ~25% in the year following a merger. We expect Comcast will now offer a 25% premium to Disney for Fox. Pro forma models attached.”

According to TipRanks.com, Horan is a top 100 analyst with an average return of 16.1% and a 74.3% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Zayo Group Holdings.

Currently, the analyst consensus on AT&T Inc is Moderate Buy and the average price target is $38.44, representing an 11.9% upside.

In a report issued on June 7, Jefferies also downgraded the stock to Hold with a $35 price target.

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The company has a one-year high of $39.80 and a one-year low of $31.17. Currently, AT&T Inc has an average volume of 28.99M.

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