Piper Jaffray Overweight On AT&T

Piper Jaffray is reiterating its Overweight rating and $34 price target on shares of AT&T, Inc. T following a mid-quarter survey. In a note to clients, Piper Jaffray writes, "After recently completing our mid-quarter wireless surveys, we are raising our 2Q postpaid net add and EPS estimates for AT&T. For a full discussion of our survey results please see our industry note published today, titled "2Q Retail Surveys Indicate Better Adds At AT&T, Better ARPU Growth At Sprint". We continue to recommend AT&T for its attractive valuation (lower 1/2 of historical trading range) solid dividend yield and potential benefits from its pending acquisition of T-Mobile." Shares of T gained 20 cents yesterday to close at $31.40, a gain of 0.64%.