From Clusterstock : Goldman cut its price target and estimates on AT&T (T), citing tougher Q2 comps, the expectation of further estimate revisions, tougher wireless competition, and macro headwinds: Recent data points to greater-than-expected pressure from the economy and wireless competition, causing us to lower our estimates. In the near term, we see further negative estimate revisions for the company, as well as an appropriately guarded tone on the upcoming 2Q earnings call. In fact, with consensus estimates trickling down over the past several months, we would not be surprised if AT&T management goes for a bigger reset on the call. Goldman removes T from its "Conviction Buy List," but reiterates its Buy, insisting that long-term growth prospects remain strong and that T remains compelling. 2008 through 2010 EPS estimates fall to $3.01, $3.36, and $3.84 from $3.10, $3.55, and $4.18 respectively. ...
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From Clusterstock : Goldman cut its price target and estimates on AT&T (T), citing tougher Q2 comps, the expectation of further estimate revisions, tougher wireless competition, and macro headwinds: Recent data points to greater-than-expected pressure from the economy and wireless competition, causing us to lower our estimates. In the near term, we see further negative estimate revisions for the company, as well as an appropriately guarded tone on the upcoming 2Q earnings call. In fact, with consensus estimates trickling down over the past several months, we would not be surprised if AT&T management goes for a bigger reset on the call. Goldman removes T from its "Conviction Buy List," but reiterates its Buy, insisting that long-term growth prospects remain strong and that T remains compelling. 2008 through 2010 EPS estimates fall to $3.01, $3.36, and $3.84 from $3.10, $3.55, and $4.18 respectively. ...