JP Morgan Cuts AT&T Estimates (T)

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JP Morgan announced on Tuesday that they have trimmed 2013 estimates for telecommunications company, AT&T Inc.( T ).

The firm reported that they have lowered their estimates for AT&T through 2013. Due to higher smartphone sale subsidies, the firm has decreased its price target to $36 with a rating of "Overweight." This price target suggests a 5% increase from the stock's current price of $33.95.

AT&T shares were up 24 cents, or 0.71% during Tuesday morning trading. The stock is up 12% YTD.

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 5.34% dividend yield, based on last night's closing stock price of $33.73.

AT&T Inc.( T ) is a "Recommended" dividend stock at this time, 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.

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