As previously reported, Morgan Stanley upgraded AT&T (T) to Overweight from Equal Weight with a price target of $28, up from $19, as the analyst assumed coverage of the stock and also named it “Top Pick” among the North American Telecom and Cable Services group. The firm sees growth driving outperformance, led by product leadership in fiber at AT&T and wireless at T-Mobile (TMUS), which the analyst also assumed with an Outperform rating and price target of $280, up from $239.
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