Bank of America Securities Remains Bullish on AT&T Inc. (T)

AT&T Inc. (NYSE:T) is one of the top most undervalued low volatility stocks to buy now. Bank of America Securities analyst Michael Funk maintained a Buy rating on AT&T Inc. (NYSE:T) on August 26, setting a price target of $34.00.

The analyst based the rating on the company’s financial outlook and competitive position, stating that AT&T Inc.’s (NYSE:T) recent acquisition of spectrum licenses from EchoStar for $23 billion is a significant factor bolstering its spectrum holdings, especially in the 600MHz and 3.45GHz bands.

The analyst expects the purchase to strengthen the company’s broadband and wireless offerings while supporting its fixed wireless access strategy, two factors critical for future growth.

AT&T Inc. (NYSE:T) provides telecommunications and technology services and operates through the Communications and Latin America segments. Its Communications segment offers wireline telecom, wireless, and broadband services in the US and globally, while the Latin America segment manages services in Mexico.

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Disclosure: None. This article is originally published at Insider Monkey.