Downgrades Buy Hold X

T AT&T

HSBC Securities

$30

Reiterated Overweight X

T AT&T

Morgan Stanley

$31 $32

Resumed Buy X

T AT&T

BofA Securities

$32

Upgrades Neutral Outperform X

T AT&T

Exane BNP Paribas

$28.50

Upgrades Hold Buy X

T AT&T

DZ Bank

$27

Upgrades Hold Buy X

T AT&T

Argus

$27

Upgrades Sec Perform Outperform X

T AT&T

RBC Capital Mkts

$22 $26

Upgrades Eq-Weight Overweight X

T AT&T

Morgan Stanley

$19 $28

Initiated Outperform X

T AT&T

Bernstein

$28

Initiated Outperform X

T AT&T

Oppenheimer

$28

Initiated Buy X

T AT&T

Goldman

$22

Upgrades Underperform Neutral X

T AT&T

Exane BNP Paribas

Upgrades Eq Weight Overweight X

T AT&T

Barclays

$20

Upgrades Peer Perform Outperform X

T AT&T

Wolfe Research

$21

Upgrades Perform Outperform X

T AT&T

Oppenheimer

$21

Upgrades Sec Perform Sec Outperform X

T AT&T

Scotiabank

$18.50

Upgrades Neutral Buy X

T AT&T

Citigroup

$17

Downgrades Buy Hold X

T AT&T

Argus

Downgrades Buy Neutral X

T AT&T

Citigroup

$22 $16

Downgrades Overweight Neutral X

T AT&T

JP Morgan

$22 $17

Upgrades Underperform Mkt Perform X

T AT&T

MoffettNathanson

$17

Upgrades Hold Buy X

T AT&T

HSBC Securities

$21

Upgrades Eq Weight Overweight X

T AT&T

Wells Fargo

$17 $22

Downgrades Mkt Perform Underperform X

T AT&T

MoffettNathanson

$17

Downgrades Overweight Eq-Weight X

T AT&T

Morgan Stanley

$20

Upgrades Hold Buy X

T AT&T

Argus

$24

Upgrades Outperform Strong Buy X

T AT&T

Raymond James

$24

Upgrades Hold Buy X

T AT&T

Truist

$21

Resumed Buy X

T AT&T

Goldman

$23

Upgrades Neutral Overweight X

T AT&T

JP Morgan

$34 $22

Reiterated Market Perform X

T AT&T

Cowen

$33 $29

Reiterated Buy X

T AT&T

Deutsche Bank

$37 $30

Reiterated Buy X

T AT&T

UBS

$34 $32

Reiterated Equal Weight X

T AT&T

Wells Fargo

$27 $26

Reiterated Peer Perform X

T AT&T

Wolfe Research

$29 $27

Upgrades Underweight Eq Weight X

T AT&T

Wells Fargo

$26 $27

Initiated Neutral X

T AT&T

Daiwa Securities

$26

Upgrades Eq Weight Overweight X

T AT&T

Barclays

$30

Upgrades Eq-Weight Overweight X

T AT&T

Morgan Stanley

$32 $28

Upgrades Underweight Sec Weight X

T AT&T

KeyBanc Capital Markets

Upgrades Sell Neutral X

T AT&T

MoffettNathanson

$23 $28

Downgrades Buy Hold X

T AT&T

Argus

Reiterated Buy X

T AT&T

Deutsche Bank

$34 $37

Resumed Sector Perform X

T AT&T

RBC Capital Mkts

$30

Initiated Sell X

T AT&T

Redburn

Upgrades Neutral Buy X

T AT&T

New Street

$35

Upgrades Neutral Buy X

T AT&T

UBS

$32 $35

Downgrades Outperform Perform X

T AT&T

Oppenheimer

Upgrades Mkt Perform Outperform X

T AT&T

Raymond James

$32

Upgrades Underperform Neutral X

T AT&T

Credit Suisse

$29

Upgrades Mkt Perform Outperform X

T AT&T

Raymond James

$34

Upgrades Neutral Buy X

T AT&T

Citigroup

Upgrades Neutral Overweight X

T AT&T

JP Morgan

Upgrades Sell Neutral X

T AT&T

MoffettNathanson

Upgrades Neutral Buy X

T AT&T

Tigress Financial

Reiterated Hold X

T AT&T

Deutsche Bank

$35 $37

Downgrades Outperform Mkt Perform X

T AT&T

Wells Fargo

Upgrades Neutral Buy X

T AT&T

BofA/Merrill

Downgrades Outperform Mkt Perform X

T AT&T

Raymond James

Initiated Underperform X

T AT&T

Credit Suisse

Resumed Overweight X

T AT&T

Morgan Stanley

$37

Downgrades Neutral Sell X

T AT&T

MoffettNathanson

Downgrades Buy Hold X

T AT&T

Jefferies

Reiterated Equal Weight X

T AT&T

Barclays

$41 $40

Upgrades Hold Buy X

T AT&T

HSBC Securities

Initiated Buy X

T AT&T

Guggenheim

$42

Reiterated Hold X

T AT&T

SunTrust

$36 $40

T  AT&T Inc.

AT&T Inc. is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide. It also owns and operates three regional TV sports networks, and retains non-controlling interests in another regional sports network and a network dedicated to game-related programming, as well as Internet interactive game playing. Its services and products include wireless communications, data/broadband and Internet services, digital video services, local and long-distance telephone services, telecommunications equipment, managed networking, and wholesale services. Its subsidiaries include AT&T Mobility and SKY Brasil Servicos Ltda.