There’s Still Time to Buy AT&T Stock on Its Way Up

AT&T (NYSE:T) finally is getting some love, with shares pushing through multiple resistance levels. I have been pounding the table on AT&T stock below $30 and we’re finally seeing that bet pay off. Not that we haven’t been compensated in the meantime with T’s massive dividend yield, which is still at 6.4%. The big question from those that have been on the sidelines: Is it too late to buy AT&T stock?

The short answer is no, and those investors will likely get a better chance than what T stock currently offers. Investors are turning cautiously optimistic on the name, as the share price inches higher. Just a few days ago, AT&T stock gapped higher and has been treading water near $32. If we get a slight pullback down to $31 (which is very doable in my view) investors could be looking at a setup that has 10% upside in the stock price while getting paid more than 6.5% from AT&T’s dividend yield.

Source: InvestorPlace

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