Here’s why AT&T shares rose on Thursday

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

The mega-media deal with Discovery is expected to close at the end of next spring, but AT&T has yet to determine what the deal will look like for shareholders, i.e. whether the move will result in a spin-off. ‘money) or a split (providing shares).

AT&T recently posted better-than-expected third quarter results thanks to impressive subscriber gains for HBOMax. AT&T now expects its global subscriber base to reach between 70 and 73 million by the end of the year.

T has fallen about 20% in the past six months and is currently No. 3 (Hold) on the Zacks Rank.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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