UPDATE: J.P. Morgan Downgrades AT&T as Wireless Competition Increases, International M&A Looms
December 04, 2013 at 12:57 PM EST
In a report published Wednesday, J.P. Morgan analyst Philip Cusick downgraded the rating on AT&T (NYSE: T ) from Overweight to Neutral, but reiterated the $38.00 price target. In the report, J.P. Morgan noted, “We are downgrading AT&T from Overweight to Neutral and retain our YE2014 price target of $38.