AT&T stock ( NYSE:T ) is not without its dangers, but Raymond James’ Frank Louthan predicts that the telecommunications firm will continue to gain ground on its chief competitor, Verizon Communications, over the next few months.
AT&T Stock Performance
After holding his rating on AT&T’s shares at Outperform since late 2019, the analyst upgraded his recommendation for the company’s stock to a Strong Buy on Monday. His upgrade comes after AT&T ( NYSE:T ) reported strong earnings, raised its forecast for full-year profit, and said it feels confident that it can deliver the $14 billion in free cash flow it had forecast for this year. These developments reassured investors during a turbulent time for the markets. His upgrade comes after AT&T reported strong earnings.
According to Louthan, the “present operating performance of the two enterprises” serves as the foundation for his argument. AT&T ( NYSE:T ) is performing far better than Verizon in terms of attracting wireless subscribers, improving profits growth , and growing its profit margins, according to him. Both Verizon and AT&T are aggressively promoting their services in a market that is very competitive.
During the third quarter, AT&T saw a net increase of 708,000 postpaid phone users, which they announced. In the meantime, Verizon’s subscriber growth was hampered by a loss of 189,000 accounts in its consumer division, which came after a loss of 215,000 accounts in the company’s consumer division in the previous quarter. At the end of the third month of the fiscal year , the firm had a net increase of 8,000 postpaid phone users.
AT&T stock is vie...
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