Where Will AT&T Be in 1 Year?

AT&T (NYSE: T) was once considered a solid stock for conservative income investors. Yet over the past five years, the telecom giant's stock lost nearly half its market value as the company made a series of debt-fueled acquisitions -- including DirecTV and Time Warner -- and struggled to expand its wireless business.

However, AT&T has also taken several big steps toward rebooting its business and reducing its leverage over the past year. It spun off DirecTV, sold other noncore assets, and agreed to spin off and merge WarnerMedia with Discovery (NASDAQ: DISCA) (NASDAQ: DISCK).

Image source: AT&T.

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Source Fool.com