Shares of AT&T (NYSE: T) rose on Monday, following positive analyst commentary. By the close of trading, the telecom's stock price was up 2.4% after rising as much as 4.4% earlier in the day.

Raymond James analyst Frank Louthan placed a strong buy rating on AT&T's stock. He sees the wireless carrier's share price surging roughly 37% to $24. 

Louthan expects AT&T to continue to outperform its rival Verizon (NYSE: VZ) in the coming quarters. In the hotly contested race for postpaid phone subscribers (who tend to be wireless companies' most profitable customers), AT&T has jumped ahead of its longtime competitor. AT&T won 708,000 new postpaid phone subscribers in the third quarter, while Verizon gained only 8,000. 

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Source Fool.com