Apathetic Analyst Throws Telecom Stock a Bone

AT&T stock sports affordable premium at the moment

Deputy Editor
Jun 6, 2023 at 9:11 AM
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MoffettNathanson upgraded shares of AT&T Inc. (NYSE:T) to "market perform" from "underperform," though the note was less than enthusiastic. "We're not optimistic," the analyst said regarding the telecommunications company, but added they "believe that AT&T's stock price now appropriately reflects reality."

T is marginally higher before the bell, last seen up 0.5% at $15.47. The shares are recovering from a June 2 year-to-date low of $14.85, amid news that Amazon.com (AMZN) was talking to wireless carriers to offer low-cost mobile services. The descending 10-day moving average has pressured the stock in recent weeks, and the T now sits 26.4% lower over the last 12 months.

Options traders have been optimistic. This is per T's 50-day call/put volume ratio of 3.20 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 100% of readings in a 12-month range.

AT&T options can be had at a relative bargain right now. The stock's Schaeffer's Volatility Index (SVI) of 26% stands in the relatively low 27th percentile readings from the past year -- an indicator that traders are pricing in low volatility expectations. What's more, T sports a Schaeffer's Volatility Scorecard (SVS) of 99 out of 100, suggesting it tends to outperform said expectations. 

 

 

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