Scotiabank Boosts AT&T (NYSE:T) Price Target to $29.50

AT&T (NYSE:T - Get Free Report) had its target price boosted by equities research analysts at Scotiabank from $29.00 to $29.50 in a research report issued on Thursday,Benzinga reports. The firm presently has a "sector outperform" rating on the technology company's stock. Scotiabank's price target suggests a potential upside of 6.62% from the company's current price.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday. Evercore ISI boosted their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday. Oppenheimer upped their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Tigress Financial lifted their price objective on AT&T from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Citigroup restated a "buy" rating on shares of AT&T in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

AT&T Stock Performance

Shares of NYSE:T traded up $0.48 during midday trading on Thursday, reaching $27.67. The company's stock had a trading volume of 5,922,185 shares, compared to its average volume of 36,554,077. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T has a twelve month low of $16.38 and a twelve month high of $29.03. The stock has a fifty day moving average of $26.91 and a 200 day moving average of $24.24. The firm has a market capitalization of $198.61 billion, a PE ratio of 18.57, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. On average, equities analysts expect that AT&T will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of T. Minot DeBlois Advisors LLC bought a new position in AT&T during the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new stake in AT&T in the 4th quarter worth $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new position in shares of AT&T in the 4th quarter worth approximately $28,000. Finally, YANKCOM Partnership purchased a new position in AT&T during the fourth quarter valued at $30,000. Institutional investors own 57.10% of the company's stock.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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