AT&T (T) and Amazon (AMZN) have received upgrades, with Seeking Alpha analysts pointing to attractive valuations and improving fundamentals. Meanwhile, Teladoc Health (TDOC) and Zillow (Z) face downgrades as analysts cite persistent revenue declines and intensifying competitive threats, respectively.
Upgrades
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AT&T (T): Upgrade Neutral to Buy by Jonathan Weber. The analyst believes AT&T’s recent share price decline has made valuation more attractive, with the dividend yield now at compelling levels and balance sheet strength improving.
“I believe that this makes AT&T more attractive than it was a year ago, and it definitely is more attractive than a couple of months ago when it traded in the high $20s and with a significantly lower dividend yield. … For investors who are interested in a telecommunications investment or who want a nice dividend yield that isn’t really dependent on the strength of the economy, AT&T could be a good choice, I think.”
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Amazon.com (AMZN): Upgrade to Buy by Vladimir Dimitrov, CFA. The analyst notes that valuation multiples are no longer as elevated and AWS tailwinds remain supportive, creating conditions for potential outperformance in 2026.
“Valuation multiples are no-longer elevated to the extent they were a couple of years ago and tailwinds for AWS are here to stay. This could temporarily make the topic of the company’s long-term profitability trends less relevant, thus creating the conditions for AMZN to outperform the S&P 500.”
Downgrades
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Teladoc Health (TDOC): Downgrade Hold to Sell by Stephen Ayers. The analyst cites persistent revenue declines, deteriorating segment economics, and weakening monetization per member as key concerns.
“At this point, Teladoc is what it is. It is a contrarian value set up, at best. But it looks more like a discounted cash flow trap with optionality, rather than a discounted cash flow bargain with a cushion. … I’m moved to downgrade TDOC stock to Sell given the ongoing deterioration of its business.”
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Zillow Group (Z): Downgrade to Sell by Gary Alexander. The analyst highlights intensifying competitive threats from the Compass/Anywhere Real Estate merger and a sluggish housing market that threatens Zillow’s core listing advantage.
“While housing unaffordability has been a tailwind for Zillow recently, we note that it’s not all clear skies in this business either. Zillow’s own market share in rental listings (arguably now the largest national platform to browse for homes for rent) is now being spotlighted, and the company is battling a lawsuit from the FTC that alleges it paid Redfin to essentially eliminate its competition and merely syndicate Zillow’s listings.”