NEW YORK (TheStreet) -- Shares of AT&T Inc. (T) are up 0.71% to $34.94 after Chief Strategy Officer John Stankey said Mexico is poised for investment, and that he sees a lot of options, both near-term and long-term, in Latin America, Bloomberg reports.
His comments at an investor conference were the clearest sign yet that the largest U.S. phone-service provider is interested in expansion into Mexico, where American Movil (AMX) plans to sell assets to invite a new competitor into the market. AT&T has also looked at Europe for potential investments, Stankey said.
American Movil contacted AT&T and other potential suitors such as SoftBank Corp. (SFTBF) as it prepares to sell assets along the east coast of Mexico valued at about $17.5 billion, according to Bloomberg.
TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."