Piper slightly lifts its target for AT&T (T +0.7%) to $37 after checks indicate...

|By:, SA News Editor
Piper slightly lifts its target for AT&T (T +0.7%) to $37 after checks indicate better-than-expected mobile subscriber adds, and continued low churn. The firm now expects Ma Bell to post Q2 net adds of 225K (200K prior) and churn of 1.05% (down from Q1's 1.1%). It also expects just 7% of AT&T subs to have upgraded their phones during the quarter, as the carrier tries to lower smartphone subsidies.