Citi adds AT&T and Comcast to its 90-day upside watchlist

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* Citi Research has added AT&T (NYSE:T [https://seekingalpha.com/symbol/T]) to its upside 90-day short-term view list and Comcast (NASDAQ:CMCSA [https://seekingalpha.com/symbol/CMCSA]) to its upside 90-day catalyst watch list on Tuesday ahead of its Global TMT conference, which will be held in early September.
* Citi said they like AT&T’s opportunity for low-single-digit annual service revenue growth (with strategic volume growth), better annual EBITDA growth, and favorable annual FCF generation.
* The research firm expects AT&T to provide some helpful reinforcements into its expanding convergence opportunity on top of the standalone product performance within mass markets at the conference.
* For Comcast, Citi expects the company to share additional details regarding its refreshed go-to-market strategies and promotions to further improve seasonally adjusted volume performance.
* Citi has forecast a share price return of 11.3% and a dividend yield of 3.9% for a total return of 15.2% for AT&T.
* For Comcast, it expects a share price return of 14.7% and a dividend yield of 3.9% for a total return of 18.6%.

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