AT&T launched their rebranded digital ad business.
Xandr is only estimated at 3% of the total revenue base.
Any success of Xandr provides upside to my previous $40 base case target.
The business is off to a troubling start with AppNexus CEO leaving.
Last week,AT&T(T) ushered in the aggressive move into advertising. The wireless giant hopes to more effectively compete in the advertising sector against the tech giants by collecting more data from customers via various video and wireless connections. Unfortunately, thenewly created Xandris more likely to resemble the failure of Oath fromVerizon Communications(VZ).