In response to Sprint's (S) recent discounted offer for shared data, AT&T issued another round of price cuts over the weekend to try to entice new subscribers. The company now offers a shared data plan of three gigabytes for $40 and six gigabytes for $70. The company previously charged $40 for two gigabytes and $80 for six gigabytes.
Sprint announced a plan for double data in October under which customers would receive 20 gigabytes for $100. This was twice the amount of T-Mobile's (TMUS) plan of 10 gigabytes for $100 and marks the lowest price for data among the four major U.S. carriers.
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Separately, 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, reasonable 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."