Benzinga | Oct 11, 2021 03:18PM EDT

Why AT&T Shares Are Tumbling Today

AT&T Inc (NYSE:T) is trading lower Monday after Barclays analyst Kannan Venkateshwar maintained the stock with an Equal-Weight rating and lowered the price target from $34 to $30.

The Barclays analyst cited challenging technicals as a result of the equity performance at Discovery Inc (NASDAQ:DISCA), which AT&T will be merging its media business with.

AT&T was among the top three trending stocks on Stocktwits at publication time.

AT&T is set to announce its third-quarter financial results before the market opens on Oct. 21.

T Price Action: AT&T has traded as high as $33.88 over a 52-week period. It is making new 52-week lows during Monday's trading session.

The stock was down 2.62% at $26.06 at time of publication.

Photo: Mike Mozart from Flickr.