In Thursday’s Analysts’ Actions, TheStreet highlights an upgrade for AT&T (T), while Wendy’s (WEN) and Energizer (ENR) get hit with ratings cuts. Analysts at JPMorgan upgraded AT&T to OVERWEIGHT from NEUTRAL with a higher price target of $40 from $35. The firm noted that synergies from AT&T’s $49 billion buyout of DirecTV (DTV) should drive higher free cash flow. Analysts expect the deal to close on June 30. The firm coupled the upgrade with a downgrade on Verizon Communications (VZ). Wendy’s had its rating lowered to NEUTRAL from OUTPERFORM at Wedbush with a reduced price target of $12. Energizer was downgraded by analysts at Morgan Stanley to EQUAL WEIGHT from OVERWEIGHT, following its share outperformance. The firm also decreased its price target on the battery company. TheStreet’s Kurumi Fukushima reports in New York.
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