TD Cowen Forecasts Strong Price Appreciation for AT&T (NYSE:T) Stock

AT&T (NYSE:T) had its price target increased by TD Cowen from $32.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. TD Cowen’s target price points to a potential upside of 31.13% from the company’s current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $30.67.

AT&T Price Performance

AT&T stock opened at $25.17 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $179.95 billion, a PE ratio of 8.17, a P/E/G ratio of 1.99 and a beta of 0.42. AT&T has a 12 month low of $21.38 and a 12 month high of $29.79. The stock has a 50-day moving average price of $27.97 and a two-hundred day moving average price of $27.75.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. Analysts expect that AT&T will post 2.14 EPS for the current year.

Hedge Funds Weigh In On AT&T

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. J. L. Bainbridge & Co. Inc. lifted its position in AT&T by 1.7% during the second quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock valued at $615,000 after purchasing an additional 355 shares in the last quarter. Financial & Tax Architects LLC lifted its position in AT&T by 4.9% during the second quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock valued at $220,000 after purchasing an additional 356 shares in the last quarter. Roberts Glore & Co. Inc. IL lifted its position in AT&T by 2.0% during the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after purchasing an additional 357 shares in the last quarter. Investment Partners LTD. lifted its position in AT&T by 3.5% during the second quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock valued at $303,000 after purchasing an additional 357 shares in the last quarter. Finally, Parcion Private Wealth LLC lifted its position in AT&T by 2.5% during the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after purchasing an additional 364 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.