AT&T price target raised to $33 from $31 at JPMorgan

JPMorgan raised the firm’s price target on AT&T to $33 from $31 and keeps an Overweight rating on the shares. The company reported solid Q2 results driven by better EBITDA and strong postpaid phone additions, the analyst tells investors in a research note. The firm says AT&T remains a top pick due to its leadership position in convergence and solid medium-term EBITDA outlook. It sees an attractive valuation at current share levels.