1341 ET - Telecommunications companies always come up as a safe haven for investors during uncertain economic times, Raymond James analysts say in a research note, citing the sector's "defensive businesses and fundamentals that don't change much regardless of the broader economy." The upending of U.S. foreign trade relations has thrown the market into uncharted territory, which the analysts note could give investors a reason to own telecommunications stocks--which face very limited direct exposure to tariffs--for an extended period while a new trade paradigm fully plays out. "Mobile phones are probably the most addictive consumer product, and even if hit with higher prices from tariffs in the near term, we highly doubt this will negatively impact the demand for wireless services," they write. Raymond James raises AT&T's price target to $30 from $29, as well as Verizon's to $47 from $45. (connor.hart@wsj.com)
(END) Dow Jones Newswires
April 07, 2025 13:41 ET (17:41 GMT)
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