NEW YORK (TheStreet) -- Shares of AT&T Inc (T) were rising, up 0.8% to $35.31 in early market trading Thursday after the company had its rating raised to "overweight" from "neutral" by analysts at JPMorgan Chase this morning.
The firm also increased its price target to $40 from $35, as AT&T wraps up its $49 billion buyout of DirecTV (DTV).
JPMorgan analysts believe synergies from the acquisition should drive higher free cash flow, and expects the deal to close on June 30.
The firm coupled the higher rating with a downgrade on Verizon Communications (VZ) to "neutral" from "overweight" this morning.
Dallas, Texas-based AT&T is a provider of telecommunications company, offering services including wireless communications, local exchange, long-distance, data/broadband and Internet, video, telecommunications equipment, managed networking, wholesale and directory advertising, and publishing.
Separately, TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: