What's Going On With AT&T Shares
Portfolio Pulse from Henry Khederian
AT&T Inc. (NYSE:T) shares are trading lower after JP Morgan maintained a Neutral rating on the stock but lowered its price target from $18 to $17. The overall market is also declining due to the release of September's Consumer Price Index (CPI) data, which showed a year-on-year increase of 3.7%, exceeding the expected 3.6% increase. Higher CPI data can lead to concerns about rising inflation, which can increase borrowing costs for companies like AT&T, reducing their profitability and potentially making their stock less attractive to investors.
October 12, 2023 | 7:03 pm
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AT&T's stock is trading lower due to JP Morgan's lowered price target and concerns about rising inflation. Higher inflation can increase borrowing costs, reducing AT&T's profitability and making its stock less attractive.
The news directly mentions AT&T and discusses factors that could negatively impact its stock price. JP Morgan's lowered price target suggests a less optimistic outlook for the company. Additionally, rising inflation could increase AT&T's borrowing costs, reducing its profitability and making its stock less attractive to investors.
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