T - AT&T's Momentum On The Block: A Critical Day Cometh

2024-07-17 14:57:31 ET

Summary

• A critical test for AT&T Inc.'s stock rally approaches.
• The dividend will be covered, but a strong free cash flow print could spark a guidance increase.
• The revenue driver expectations are provided, with a discussion of uncertainties.
• A dividend increase, or prioritize debt?
• What could break this momentum.

We are now approaching a very critical earnings season, and this is the catalyst we believe could trigger the next major move in markets, and a shift in sentiment. In recent sessions we have seen a rotation from big tech and chips and into industrials, energy and small caps. Quietly, however, one of our pound of the table names in AT&T Inc. ( T ) in the $14-$16 range has rallied to 52-week highs with nice momentum in the stock....

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