Barclays analyst Amir Rozwadowski came out with a favorable report on AT&T Inc. (NYSE:T) following the analyst’s recent visit to the company’s headquarters. Rozwadowski upgraded the stock to Overweight from Equal Weight, and raised the price target from $34 to $39. Shares of T are currently trading at $36.15, up $1.11, or 3.17%.

Rozwadowski wrote, “Following our recent headquarters visit, our analysis suggests that despite expectations for ongoing competitive pressure in the U.S. wireless market, the number of levers (i.e. revenue and cost synergies) that could positively impact AT&T’s bottom line post the imminent close of the DIRECTV transaction are too material to ignore.”

“In our view, this combination of dissipating external (i.e. earnings deceleration due to increased competition) and internal (i.e. dividend coverage, leverage ratios etc.) concerns coupled with the prospect for a positive earnings revision cycle coming out of the close of the deal leads us to shift to a relative Overweight rating.”, the analyst continued.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Amir Rozwadowski has a total average return of 51.1% and a 82.4% success rate. Rozwadowski is ranked #46 out of 3640 analysts.

Out of 18 analysts polled by Tipranks, 9 rate T stock a Buy, 8 rate the stock a Hold, and only 1 recommends a Sell rating. With a return potential of 5.35%, the stock’s consensus target price stands at $38.00.

T Chart