AT&T Inc (T)

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Not on sale. Perhaps deeply troubled. Perhaps unquantifiable risk.

"AT&T shares hit three-decade low as lead cables risk weighs"

"NEW YORK (Reuters) -Shares of AT&T Inc fell more than 5% to hit their lowest level in thirty years on Monday, after analysts downgraded the stock following a news report that the telecommunications giant left toxic lead cables buried across the United States."

"A Wall Street Journal report on July 9 named AT&T and Verizon among several telecom giants that abandoned a sprawling network of underground toxic lead cables, with a huge number of them possibly contaminating neighboring soil and drinking water sources.

Analysts at Citigroup and JPMorgan both lowered their recommendations on AT&T shares in recent days. The stock has lost a quarter of its value so far this year, having dropped 12% since the Wall Street Journal report. The shares hit a low of $13.68 in Monday's session, the lowest since March 1993.

AT&T faces unquantifiable financial risks that would create a "long term overhang" for the stock since the company probably has a significant exposure to the toxic lead cables with its network reaching about 40% of homes in the U.S., Citi analysts, led by Michael Rollins, said in an investor note."