AT&T Inc (T)

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The technicals for T are bullish with a possible trend reversal. The stock has support at $29.00 and resistance at $32.50. The company is next expected to report earnings late July. CFRA rates this stock 4 STARS (out of five) - buy.
RISK: The stock has to drop 3.9% to threaten the break even point. This trade rates 4 keys out of 5 - low relative risk.
CFRA research notes: CFRA Maintains Buy Opinion on Shares of AT&T Inc. We keep our 12-month target price at $35, 9.8x our '19 EPS estimate, a discount to its three-year forward average P/E at 12.0x. AT&T reported Q1 operating EPS of $0.86 vs $0.85, in line with the consensus. In the Mobility segment, revenues increased 1.2%, with 2.9% service growth partially offset by a 4.5% decline in equipment, due to slower phone upgrades. 80k postpaid phone net add came in well ahead of expectations, but we note this was most likely driven by aggressive promotional activity. Sales in the Entertainment Group fell 0.9%, with 544k premium TV net subscriber losses and 83k DIRECTV NOW losses due to the roll-off of promotional pricing. High-speed internet revenues increased 10.2%, on 45k broadband net adds. WarnerMedia revenues increased 3.3% on strong theatrical and television performance. Q1 was very mixed for AT&T; the company is delivering on debt reduction promises but faces considerable headwinds across most of its segments, which we don't see subsiding in Q2.