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AT&T Upgraded to “Overweight” at JP Morgan (T)

By Dividend.com,  April 12, 2012, 08:44:40 AM EDT

Telecom giant AT&T Inc. ( T ) on Thursday caught a big upgrade from analysts at JP Morgan Chase & Co..

The firm said it boosted its rating on T from "Neutral" to "Overweight" and lifted its price target from $31 to $33, suggesting an 8% upside to the stock's Wednesday closing price of $30.45.

JP Morgan cited several factors for the upgrade, including higher tablet demand, price increases, low wireline expectations, higher enterprise spending, and continued share buybacks.

AT&T shares rose 30 cents, or +1%, in premarket trading Thursday.

The Bottom Line
We have been recommending shares of AT&T ( T ) since Mar.12, 2009, when the stock was trading at $23.35. The company has a 5.78% dividend yield, based on last night's closing stock price of $30.45.

AT&T Inc. ( T ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: T



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