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AT&T Woos Austin with New Network

AT&T, Inc. (T) announced that it is set to provide all fiber Internet network facility in Austin covering a broadband speed 1GB per second. Alongwith advanced TV services, the company is planning to offer its U-verse services powered by GigaPowerSM, representing one of the fastest Internet services in the city.

AT&T plans to take up U-verse to 10,000 customer locations across Austin with further expansions expected through 2014. AT&T announced it would work with government authorities to develop more fiber network platforms in Austin that complements the city’s technology ecosystem. The company’s new initiatives of offering U-verse with GigaPower remain part of its multi billion program- Project Velocity IP (VIP).

In Project Velocity IP, AT&T will invest $14 billion in the coming three years to considerably expand the wireless (investment of $8 billion) and wireline (investment of $6 billion) Internet Protocol (IP) broadband networks. The company targets to extend wireline IP network to nearly 57 million customer locations (including both customers and small businesses) – covering 75% of AT&T’s wireline service area – by the end of 2015. This project underlines the company’s efforts to meet the growing demand for high-speed Internet. We believe that this investment program will provide AT&T with a high-potential growth platform, leading to higher revenues and improved earnings per share.

Further, AT&T is looking at opportunities to improve its growth profile through a number of strategic initiatives. The company plans to woo customers with early upgrades to smartphones and tablets every year. The carrier also started offering a new device upgrade service called AT&T Next that will allow subscribers (both new and existing customers) to change their old smartphones or tablets every year without any upgrade fee or down payment. Further, AT&T struck a deal with New Zealand based Opus International Consultants to render global networking services.

AT&T currently has a Zacks Rank #3 (Hold).

Other Stocks

Hawaiian Telcom Holdco, Inc. (HCOM), with Zacks Rank #1 (Strong Buy), BT Group plc (BT) and Portugal Telecom, SGPS S.A. (PT), both with Zacks Rank #2 (Buy) are the three stocks which we believe are worth considering for investment.

Read the Full Research Report on TRead the Full Research Report on BTRead the Full Research Report on PTRead the Full Research Report on HCOMZacks Investment Research

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