Citi opens ‘positive catalyst watch’ on AT&T into analyst meeting

Citi analyst Michael Rollins opened a “90-day positive catalyst watch” on shares of AT&T while keeping a Buy rating on the shares. AT&T reported “solid” Q3 results and remains on track to meet its full-year guidance outlook, the analyst tells investors in a research note. The firm believes the upcoming analyst meeting scheduled for December 3 could be a potentially positive catalyst with opportunities for AT&T to provide an update regarding its multi-year strategy, financial prospects, and capital allocation. It believes the company is likely to sustain a favorable pace of fiber footprint expansion, announce a multi-year share repurchase program which could reach $20B-$30B over four years and “sustain some degree of future financial flexibility” for possible spectrum acquisitions.