Goldman Sachs downgrades AT&T (T +0.5%) to Neutral from Buy, given Verizon (VZ) is now...

|By:, SA News Editor

Goldman Sachs downgrades AT&T (T +0.5%) to Neutral from Buy, given Verizon (VZ) is now officially an iPhone (AAPL +0.4%) reseller. For 2011, it believes Verizon's proportionate revenue growth will surpass AT&T's by 4.6%. But Piper Jaffray also is Neutral on Verizon, believing it won't "steal an excessive number" of AT&T customers.