Kick 'em while they're down: J.P. Morgan downgrades AT&T (T +1.2%) with a Neutral rating and...

|By:, SA News Editor
Kick 'em while they're down: J.P. Morgan downgrades AT&T (T +1.2%) with a Neutral rating and $31 target, vs. a previous Overweight and $33. "We view AT&T favorably given its solid cash flow characteristics, potential for stock buybacks and low EPS multiple, but continued pressure on wireless margins, need to acquire spectrum and invest in its network keep us on the sidelines." (more)