DISCB - AT&T's Investor Day wins praise from analysts shifting focus to execution

AT&T's (T -1.1%) key presentation ahead of its Discovery (DISCA +0.4%) deal closing, at Friday's Investor Day, has drawn mostly positive reactions from a number of covering analysts who praised the extra detail even if it didn't break new ground on guidance. Wall Street is generally in a Hold pattern on AT&T stock, while Seeking Alpha authors rate it a Buy. It has a Quant Rating of Hold. The day brought a target price increase from Cowen - to $32 from $29, now implying 39% upside - agreeing with many other analysts that AT&T stock is now an execution story. With the presentations, management "laid out a line of sight for sustained revenue and EBITDA growth in the new era for the company," the firm says. BofA's price objective is $36, implying 57% upside. The bank says AT&T is undervalued along "both its RemainCo telecom vector and WarnerMedia Discovery vector"

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AT&T's Investor Day wins praise from analysts, shifting focus to execution