On Wednesday analysts at Citigroup cut estimates for telecom giant AT&T Inc. (T) through 2013.
The analysts have a “Buy” rating for AT&T and a $39 price target. The target is a +15% upside from Tuesday’s closing price of $33.92.
The firm sees accelerated network investments for the telecom company.
AT&T shares were up 5 cents, or +0.15%, in premarket trading on Wednesday. The stock is up +12.7% year-to-date.
The Bottom Line
We have been recommending shares of AT&T (T) since Mar.12, 2009, when the stock was trading at $23.35. The company has a 5.31% dividend yield, based on last night’s closing stock price of $33.92.
AT&T Inc. (T) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.