S&P Capital IQ Reiterates its STRONG BUY Rating on AT&T

October 21 00:00 2011

NEW YORK, October 21 (RainbowNewsLine.com) – Analyst Todd Rosenbluth of S&P Capital IQ reiterates his STRONG BUY rating on the shares of AT&T (NYSE:T), while reducing the estimates for the company.

Analyst Todd Rosenbluth, in a research note published yesterday mentions that the company’s Q3 results were in line with the estimates and the consensus. The analyst expects some wireless margin pressure in Q4 and early’12 given the smartphone subsidies. Despite the current competition, the initial demand for new handsets will support AT&T, the analyst says. The EPS estimates for 2011 and 2012 have been reduced from $2.40 to $2.38 and from $2.60 to $2.57 respectively. AT&T looks compelling backed by 5.9% dividend growth, the analyst adds.

  Categories: