Deutsche Bank downgrades AT&T on increasing competition, 'lack of clarity' on Trump's plans

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Deutsche Bank lowered its rating for AT&T to hold from buy, predicting the company will report financial results below expectations this year.

"We downgrade AT&T shares ... and trim our estimates to reflect weaker margins/slower EPS growth," analyst Matthew Niknam wrote in a note to clients Tuesday. "With limited upside to our price target ... and a number of fundamental headwinds (wireless/linear video competition) likely to pick up in 2017, we see more balanced risk/reward at current levels."