What's Going On With AT&T Stock Today? Analyst Cites Lead-Sheathed Cables As 'Uncertain Risks'
Portfolio Pulse from Anusuya Lahiri
AT&T Inc (NYSE:T) shares traded lower after Jim Cramer discouraged investors from investing in the company, citing poor management. Citigroup analyst Michael Rollins maintained a Neutral rating for AT&T and raised the price target from $16 to $17, reflecting the 'uncertain risks' from the industry's legacy use of lead-sheathed cabling. Rollins' price target also includes a scenario estimate for possible lead-based cabling remediation of ~$8.5 billion.
July 25, 2023 | 5:12 pm
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NEGATIVE IMPACT
AT&T's stock traded lower following negative comments from Jim Cramer and 'uncertain risks' from the industry's legacy use of lead-sheathed cabling. Citigroup maintains a Neutral rating but raises the price target to $17.
The stock price of AT&T is likely to be negatively impacted in the short term due to discouraging comments from Jim Cramer and the 'uncertain risks' associated with the industry's legacy use of lead-sheathed cabling. However, the raised price target by Citigroup might mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100