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Why AT&T Stock Fell on Friday

TheMotleyFool

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Shares of telecom giant AT (NYSE: T) fell 3.6% as of 9:50 a.m. ET Friday morning.

You can blame J.P. Morgan for that.

This morning, investment bank J.P. Morgan downgraded AT stock from overweight (i.e., buy) to neutral, and slashed the telco's target price by $5, to just $17 a share. Of course, even $17 is more than what AT stock cost AT Thursday's close, and it's also about 17% more than AT stock costs after this morning's sell-off.

Source Fool.com