Even without iPhone, AT&T can thrive-Barron's
NEW YORK, April 25
NEW YORK, April 25 (Reuters) - Concerns over the loss of AT&T's (T.N) exclusive pact with Apple Inc (AAPL.O) are overshadowing AT&T's ability to sell other services to its customers, Barron's reported in its April 26 edition.
The telecom company, which posted better-than-expected quarterly earnings last week, is the exclusive carrier for the iPhone. Most analysts expect this to continue until 2011.
In the meantime, investors should not overlook the company's ability to sell data, broadband, voice and other services to home and wireless customers, the financial newspaper reported in its "Plugged In" column.
AT&T and other phone companies have also been hurt by the slowdown in the number of customers buying lucrative, long-term contracts. But AT&T said its revenue per user from data and other services continues to rise, which will compensate for slower contract growth.
Pacific Crest analyst Steve Clement has an outperform rating on the stock, with a $30 target. AT&T shares slipped 2 cents to $26.25 on Friday on the New York Stock Exchange. (Reporting by Deepa Seetharaman, editing by Maureen Bavdek)