That's because AT&T is bouncing off a key technical support level this week, catching a bid yesterday off the bottom of an uptrend that's been propelling shares higher in recent months. Put simply, AT&T looks like a "buy-the-dips stock" right now, and yesterday was a dip.
In addition, TheStreet Ratings team rates AT&T as a buy with a ratings score of B+. TheStreet Ratings team has this to say about its recommendation:
"We rate AT&T a buy. This is driven by several positive factors, 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 somewhat disappointing return on equity."