- An aggressive AT&T (NYSE:T) is fighting back hard against a proposed FCC fine of $100M, saying it's "unprecedented and indefensible," and has asked for a total withdrawal of the fine.
- Last month, the agency charged Ma Bell with misleading customers about slowing mobile data for customers on unlimited data plans.
- At the time, FCC Chairman Tom Wheeler said the ultimate fine would depend on AT&T's response, and might include customer refunds.
- AT&T says the FCC is "abandoning any pretext" of being impartial and suggests the fine is beyond agency authority, expecting it to be thrown out in court.
- Meanwhile today in analyst action, after AT&T's quarterly results and the closure of its DirecTV (NYSE:DTV) acquisition, Goldman Sachs reinstated coverage of the company at Neutral with a price target of $37; and Canaccord Genuity has raised its price target to $35 (from $34).
- Shares closed today up 0.2% to $34.35.
- Previously: AT&T details closure of DirecTV deal (Jul. 24 2015)