Why AT&T Stock Is Dropping Friday
Portfolio Pulse from Erica Kollmann
AT&T Inc. (NYSE:T) shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target from $22 to $17. The stock is experiencing increased trading volume with over 59 million shares traded in the session, compared to the 100-day average of 40.07 million shares. AT&T will release its Q2 financial results on July 26.
July 14, 2023 | 4:36 pm
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NEGATIVE IMPACT
AT&T's stock is trading lower after JP Morgan's downgrade and lowered price target. Increased trading volume is observed. Q2 results are due on July 26.
The downgrade by JP Morgan, a major financial institution, and the lowering of the price target are likely to negatively impact investor sentiment towards AT&T, leading to a drop in the stock price. The increased trading volume indicates a heightened interest in the stock, potentially due to this news. The upcoming Q2 results could further impact the stock depending on the financial performance of the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100