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AT&T (T) Stock Advancing as Price Target Raised at Barclays

NEW YORK (TheStreet) -- AT&T's (T) stock is up by 0.63% to $43.04 in early-morning trading on Friday, as the company's price target was raised to $45 from $42 at Barclays. The firm maintained an "overweight" rating on the stock.

The price increase comes as the U.S. Telecom Services industry "has outperformed both the market and other subsectors, returning 21% compared to 4.6% for the S&P 500," Barclays said in an analyst note.

"Within our coverage, T and VZ are clear outperformers relative to the sector and peers (+24% and +21%)," the firm added.

Valuation concerns do limit upside for AT&T, as the company is...