Buy AT&T’s Stock After Plunge. J.P. Morgan Expects a ‘Gradual Rebound.’

AT&T shares saw their biggest one-day drop in more than 20 years on Thursday after the telecommunication giant reported earnings. The stock looks like a Buy at current levels, according to analysts at J.P. Morgan

Although the telecom company’s first-quarter results were largely in line with expectations—earnings per share were slightly ahead, with revenue below—shares in AT&T (ticker: T) plunged more than 10% on Thursday, the stock’s biggest daily downward move since 2000. At a closing price of $17.65, the shares are beaten up, even including a 1% rebound in Friday’s premarket trading.

Source: finance.yahoo.com