Subscribe to Entrepreneur for $5
Subscribe

Here's Why AT&T Stock Spiked on Thursday

Shares of telecommunications giant AT&T (T) surged higher Thursday after Morgan Stanley analyst Simon Flannery raised his rating on the stock.

By
This story originally appeared on Zacks

Shares of telecommunications giant AT&T T surged higher Thursday after Morgan Stanley analyst Simon Flannery raised his rating on the stock to Overweight from Equal Weight. He argued that the $43 billion deal to combine its media assets with Discovery DISCA will create “a much clearer and focused communications business.”

- Zacks

The mega media deal with Discovery is expected to close late next spring, but AT&T has yet to determine how the deal will look for shareholders, meaning if the move will result in a spin-off (providing cash) or a split-off (providing shares).

AT&T recently posted stronger-than-expected Q3 earnings driven by impressive subscriber gains for HBOMax. AT&T now expects its global subscriber base to rise to between 70 million and 73 million by the end of the year.

T has fallen about 20% over the past six months, and is currently a #3 (Hold) on the Zacks Rank.



Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. 

See 3 crypto-related stocks now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

 

AT&T Inc. (T): Free Stock Analysis Report

 

Discovery, Inc. (DISCA): Free Stock Analysis Report

 

To read this article on Zacks.com click here.

 

Zacks Investment Research