Several investment firms have updated their stock ratings and price targets on shares of AT&T (NYSE: T) in the last week:

  • AT&T had its “buy” rating reaffirmed by analysts at Nomura. They now have a $38.00 price target on the stock.
  • AT&T was downgraded by analysts at Hudson Square Research from a “buy” rating to a “hold” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • AT&T was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They wrote, “We are lowering our estimates for both 3Q12 and 4Q12 because of what we expect will be a successful launch of the iPhone 5. We had initially modeled an early 4Q12 release of the iPhone 5; however, after Wednesday’s announcement of a 9/21 launch, we have shifted a portion of the iPhone 5 sales into 3Q12 and increased our estimate for total iPhone 5 sales. As such, we now expect wireless service margins to decline by 12.6 percentage points by YE2012 (vs. 2Q12 margin).”
  • AT&T had its price target raised by analysts at Piper Jaffray from $38.00 to $40.00. They now have an “overweight” rating on the stock. They wrote, “We are updating our earnings model and estimates to reflect a September 21 iPhone launch, as was announced by Apple. We had previously modeled a 4Q launch, mirroring the iPhone 4S launch in 2011. In total, we are increasing the iPhones sold in 3Q and decreasing those sold in 4Q. For the third quarter, this results in a higher upgrade rate, increased subsidy expense, and lower margins than were previously forecast.”
  • AT&T had its “sector perform” rating reaffirmed by analysts at RBC Capital. They now have a $35.00 price target on the stock.

Shares of AT&T Inc. opened at 37.76 on Thursday. AT&T Inc. has a one year low of $27.41 and a one year high of $38.28. The company has a market cap of $217.8 billion and a P/E ratio of 50.28.

AT&T Inc. (AT&T) is a holding company. AT&T is a provider of telecommunications services in the United States and worldwide.