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Fly News Breaks for July 1, 2016
VZ, T
Jul 1, 2016 | 06:20 EDT
JPMorgan analyst Philip Cusick raised his price target for AT&T (T) to $45 saying the company is his top yield investment. AT&T's dividend yield of 4.44% is attractive relative to the 10-year U.S. Treasury at 1.47%, the S&P 500 dividend yield of 2.20% and Verizon (VZ) at 4.05%, Cusick tells investors in a research note. The analyst expects investors to become more comfortable with the dividend as better free cash flow drives the payout ratio down. He keeps an Overweight rating on AT&T.
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