AT&T Inc (NYSE:T) shares are under pressure on Wednesday. Oppenheimer issued a fresh downgrade, and the company also announced a major simplification of its home internet pricing. Here’s what you should know.
AT&T stock is feeling bearish pressure. Why is T stock dropping?
Oppenheimer Downgrade And Competitive Concerns
Oppenheimer cut its rating on AT&T to Perform from Outperform, warning that the company faces growing competitive risk from satellite providers that use low Earth orbit constellations, according to Investing.com. The firm said broadband subscriber growth and eventually mobile services could be pressured as satellite networks expand.
What Oppenheimer Is Worried About
