Keep an eye on AT&T (T).
After pulling back to less than $17, the stock is starting to bounce from its 50-day moving average. It’s also over-extended on RSI, MACD, and Williams’ %R. Better, as investors wait for the stock to recover lost ground, they can collect its yield of 6.56%.
Helping, analysts at JP Morgan just upgrade the stock to an overweight rating, with a price target of $21 from $18. “We look for AT&T to grow its mobility business at a solid pace with both postpaid phone growth and ARPU for service growth of 3% in 2024 and EBITDA growth of 5.1%,” said the firm, as quoted by Seeking Alpha.