RBC Capital lowered the firm’s price target on AT&T to $14 from $19 and keeps a Sector Perform rating on the shares. The company’s Q2 saw a beat on EBITDA, free cash flow, and earnings, but operating metrics were mixed, with wireless postpaid total net adds higher than consensus estimates on postpaid other, and fiber net adds shy of consensus, the analyst tells investors in a research note. The firm is reducing its assumed EBITDA multiple to 6-times from 6.5-times, RBC added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on T:
- This Is the Biggest Investment in High-Speed Internet Ever — and These Stocks Are Set to Reap the Rewards
- Disney, Apple, Amazon, YouTube interested in NBA stream rights, Bloomberg says
- DXC Technology announces agreement with AT&T
- SBA Communications price target lowered to $250 from $260 at BMO Capital
- At&t Inc Earnings Update: Did it Beat Estimate Forecasts?