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AT&T stock falls after Credit Suisse initiates at underperform

Emily Bary

Shares of AT&T Inc. (t) are down 0.6% in premarket trading after Credit Suisse analyst Douglas Mitchelson initiated coverage of the stock with an underperform rating. Credit Suisse terminated coverage of the stock back in October. "We do not see capex moderating given new spectrum band & 5G buildouts, while the balance sheet has been levered up pursuing inorganic growth and T's FCF [free cash flow] is mostly dedicated to paying its dividend," Mitchelson wrote.