AT&T: shares lose ground after downgrade
(CercleFinance.com) - Shares of US phone company AT&T are currently down 0.
5% at 33.2 dollars in early morning trading on Thursday after an analyst downgraded the stock.
In a research note sent to investors, Jefferies analysts wrote that they have cut their rating on the stock from "buy" to "hold," citing the continued pressures that the carrier faces.
"We believe pressures in the entertainment segment will continue as virtual multichannel video programming distributors (vMVPDs) gain share and video options pressure ARPU and margins," the broker said.
While Jefferies expects the Time Warner deal to close, its team of analysts believes there is risk of incremental programming investment at HBO/Turner in order to drive growth.
Shares in AT&T have fallen as low as 32.9 dollars on Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5% at 33.2 dollars in early morning trading on Thursday after an analyst downgraded the stock.
In a research note sent to investors, Jefferies analysts wrote that they have cut their rating on the stock from "buy" to "hold," citing the continued pressures that the carrier faces.
"We believe pressures in the entertainment segment will continue as virtual multichannel video programming distributors (vMVPDs) gain share and video options pressure ARPU and margins," the broker said.
While Jefferies expects the Time Warner deal to close, its team of analysts believes there is risk of incremental programming investment at HBO/Turner in order to drive growth.
Shares in AT&T have fallen as low as 32.9 dollars on Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.