JP Morgan announced on Tuesday that they have trimmed 2013 estimates for telecommunications company, AT&T Inc.(T).
The firm reported that they have lowered their estimates for AT&T through 2013. Due to higher smartphone sale subsidies, the firm has decreased its price target to $36 with a rating of “Overweight.” This price target suggests a 5% increase from the stock’s current price of $33.95.
AT&T shares were up 24 cents, or 0.71% during Tuesday morning trading. The stock is up 12% YTD.
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 5.34% dividend yield, based on last night’s closing stock price of $33.73.
AT&T Inc.(T) is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.