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Why AT&T Stock Was Sliding Today

TheMotleyFool

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Why AT&T Stock Was Sliding Today: https://g.foolcdn.com/editorial/images/740091/5g-cellular-communications-tower.jpg

Shares of AT (NYSE: T) were falling today after Citigroup downgraded the telecom stock ahead of its earnings report next week.

The stock was down 4.3% as of 11:26 a.m. ET on Monday.

Citi analyst Michael Rollins lowered his rating on AT from buy to neutral and slashed his price target from $22 to $16 in response to growing concerns over lead-sheathed cabling, which could pose a significant liability risk. Rollins also downgraded Verizon and T-Mobile on the news, which stems from a Wall Street Journal investigation.

Source Fool.com