AT&T price target raised to $30 from $28 at Morgan Stanley

Morgan Stanley raised the firm’s price target on AT&T to $30 from $28 and keeps an Overweight rating on the shares. The firm estimates that better-than-expected Q4 U.S. wireless net additions partially reversed in a more competitive Q1, but sees quarterly fluctuations as “still consistent with a healthy industry offering defensive earnings growth,” the analyst tells investors in a note on the group. The firm adds that AT&T remains its “Top Pick” in this coverage group with accelerating growth ahead and notes that it raised its out-year estimates “modestly.”