Dogs of the Dow #3: AT&T (T)
Click to Enlarge AT&T (T) is suffering from the same dynamics pulling down Verizon — namely, the fact dividend stocks are looking less attractive given the bump up in Treasury yields. Other factors include a recent analyst from JPMorgan from “overweight” to “neutral” and comments from the company CFO that margins are under pressure due to higher capital spending — necessary in the now mature but highly competitive wireless space.
AT&T is the worst of these Dogs of the Dow with mere 2% gains year-to-date. I’m looking for a return to at least the September low — a 6% loss from here.
As of this writing, Anthony Mirhaydari did not hold a position in any of the aforementioned securities.