AT&T Stock Posts Modest Comeback After Tough Year

AT&T's stock has risen nearly 5% over the past five trading days after falling from $29.82 on Dec. 19 down to $27.36 on Christmas Eve. The mini rally comes after a tough 2018 in which AT&T shares lost more than 20% of their value.

Author:: Scott Van Voorhis
Publish date:: Jan 2, 2019 6:50 PM EST

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AT&T's (T) - Get Report stock price rose 3.5% to $29.54 Wednesday on the heels of a $1.1 billion New Year's Day deal to sell hundreds of data centers to Brookfield Infrastructure.

The telecommunications giant said it would use the money to reduce its net-debt-to-EBITDA-ratio to the 2.5x range by the end of this year.

AT&T's stock has risen nearly 5% over the past five trading days. It had previously fallen from $29.82 on Dec. 19 down to $27.36 on Christmas Eve.

In late November, AT&T said it would see free-cash flow of $26 billion in 2019, up from analysts' estimates of $24.84 billion, a bump that comes on the heels of its $85 billion deal for media company Time Warner.

It was a tough 2018 for AT&T's stock, which kicked off the year at $38.14 only to steadily trend downward.

AT&T completed its hard-fought merger with Time Warner in June, after an 18-month anti-trust legal battle with federal regulators.