Raymond James analyst Frank Louthan maintained AT&T Inc. with an Outperform and a $26 price target ahead of its 2Q22 results.
With the WarnerMedia spin-off now closed, he believes the story is far more straightforward and that this will attract investors.
He previously discussed that following the Netflix, Inc. miss, eliminating volatile subscriber metrics from DTV and Warner Bros. Discovery, Inc. asset sales is highly advantageous.
Additionally, he believes simple recurring revenue names with solid dividends like AT&T were better performers in a problematic tape, and with macro issues impacting the market, he considers AT&T can outperform….