2024-03-28 10:00:00 ET
Summary
- AT&T is experiencing a stock breakout while overcoming a network outage that will impact Q1'24 results.
- The network outage resulted in bill credits and lost customers, but the impact is expected to be temporary.
- AT&T's focus on generating free cash flow, repaying debt, and reducing interest expenses is driving the stock's rally.
- The stock still offers a large 6.3% dividend yield despite a payout ratio heading towards only 45% this year.
AT&T (T) is climbing to new recent highs, with the stock in breakout mode after a brutal few years. The wireless giant is even overcoming a network outage that will impact Q1'24 results reported in a few weeks. My investment thesis remains Bullish on the stock for now while riding the trend higher due to the new focus on free cash flow generation and repaying debt....
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AT&T: Breakout Mode