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Tuesday, June 06, 2023 9:39:13 AM
Apathetic Analyst Throws Telecom Stock AT&T (T) a Bone
By: Schaeffer's Investment Research | June 6, 2023
• MoffettNathan upgraded AT&T stock to "market perform"
• AT&T stock sports affordable premium at the moment
MoffettNathanson upgraded shares of AT&T Inc. (NYSE:T) to "market perform" from "underperform," though the note was less than enthusiastic. "We're not optimistic," the analyst said regarding the telecommunications company, but added they "believe that AT&T's stock price now appropriately reflects reality."
T is marginally higher before the bell, last seen up 0.5% at $15.47. The shares are recovering from a June 2 year-to-date low of $14.85, amid news that Amazon.com (AMZN) was talking to wireless carriers to offer low-cost mobile services. The descending 10-day moving average has pressured the stock in recent weeks, and the T now sits 26.4% lower over the last 12 months.
Options traders have been optimistic. This is per T's 50-day call/put volume ratio of 3.20 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 100% of readings in a 12-month range.
AT&T options can be had at a relative bargain right now. The stock's Schaeffer's Volatility Index (SVI) of 26% stands in the relatively low 27th percentile readings from the past year -- an indicator that traders are pricing in low volatility expectations. What's more, T sports a Schaeffer's Volatility Scorecard (SVS) of 99 out of 100, suggesting it tends to outperform said expectations.
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DiscoverGold
By: Schaeffer's Investment Research | June 6, 2023
• MoffettNathan upgraded AT&T stock to "market perform"
• AT&T stock sports affordable premium at the moment
MoffettNathanson upgraded shares of AT&T Inc. (NYSE:T) to "market perform" from "underperform," though the note was less than enthusiastic. "We're not optimistic," the analyst said regarding the telecommunications company, but added they "believe that AT&T's stock price now appropriately reflects reality."
T is marginally higher before the bell, last seen up 0.5% at $15.47. The shares are recovering from a June 2 year-to-date low of $14.85, amid news that Amazon.com (AMZN) was talking to wireless carriers to offer low-cost mobile services. The descending 10-day moving average has pressured the stock in recent weeks, and the T now sits 26.4% lower over the last 12 months.
Options traders have been optimistic. This is per T's 50-day call/put volume ratio of 3.20 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 100% of readings in a 12-month range.
AT&T options can be had at a relative bargain right now. The stock's Schaeffer's Volatility Index (SVI) of 26% stands in the relatively low 27th percentile readings from the past year -- an indicator that traders are pricing in low volatility expectations. What's more, T sports a Schaeffer's Volatility Scorecard (SVS) of 99 out of 100, suggesting it tends to outperform said expectations.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
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