Bernstein Raises PT on AT&T Inc. (T), Keeps a Buy

AT&T Inc. (NYSE:T) is one of the Blue Chip Stocks to Buy with the Lowest PE Ratios. On September 4, Laurent Yoon from Bernstein raised the price target on AT&T Inc. (NYSE:T) from $31 to $32, while reiterating a Buy rating on the stock.

The analyst based his bullish sentiment on the company’s recent acquisition of a large amount of low and mid-band spectrum from Echostar. He believes that this deal will improve AT&T Inc. (NYSE:T)’s wireless network and boost its Fixed Wireless Access (FWA) services.

Yoon noted that although the acquisition was expensive, it is key to strengthening its mid-band portfolio. He believes it will help the company gain more market share in broadband and wireless and expects the company to use this to grow new broadband subscribers rapidly and advance its convergence strategy.

AT&T Inc. (NYSE:T) is a global provider of telecommunications and technology services that offers wireless, wireline, and broadband services to consumers and businesses.

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