Business
Analyst says to sell AT&T stock after recent rally
The US telecom sector has seen very different performance among the major players this year, with
T-Mobile USA
AT&T
Verizon Communications
in market capitalization. Verizon stock posted a significant loss, and AT&T was mostly flat. The recent sharp divergence in AT&T and Verizon stocks prompted one of the most influential telecom analysts to change his stance on both.
More specifically, telecommunications analyst Craig Moffett of MoffettNathanson downgraded his rating on AT&T stock (ticker: T) to Underperformer from Market Performance following the stock’s 26% rally since mid-mid. October. Moffett keeps his $17 target on the stock, slightly below last Friday’s close at $18.49.