AT&T price target raised to $20 from $17 at Barclays

Barclays raised the firm’s price target on AT&T (T) to $20 from $17 and keeps an Equal Weight rating on the shares. Verizon (VZ) is on a much better operational trajectory than has been the case over the last couple of years, but upside to numbers and valuation may be more limited from present levels, the analyst tells investors in a research note. AT&T (T) on the other hand may have slightly better narrative support this year on a relative basis, says the firm. It downgraded Verizon this morning saying the stock’s valuation is more fairly aligned with trend improvements while raising AT&T’s target.