I'm Reiterating my Buy rating for AT&T (NYSE: T), first recommended on February 11, 2009 when T was priced $24.56.

AT&T held support at $20 and although the market has been peppered with renewed concerns about a 'late' U.S. economic recovery (and an 'even later' global economic recovery), AT&T shares have held their own. And... this was after AT&T's shares were essentially unmoved by the greatest financial market and stock market tumult since the 1930s.

This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and check out other Battle of the Brands posts.

"I'm like Ma Bell, I got the ill communication." -- Beastie Boys

When considering these two particular companies, it is important to note their roots as offspring of the famous "Ma Bell" network. The Bell System, which has produced the most complex ongoing series of mergers and break-ups in the history of the United States, is the origin of the companies that are now AT&T Inc. (NYSE: T) and Verizon Communications Inc. (NYSE: VZ), as well as competitor Qwest Communications International (NYSE: Q). A lot has changed since those early times -- remember, after all, that the second "T" in AT&T stood for Telegraph. Now phones are the latest devices to be made supercomputers. AT&T has its exclusive deal with the Apple Inc. (NASDAQ: AAPL) iPhone, while Verizon slings the Research in Motion Ltd. (NASDAQ: RIMM) BlackBerry.

Since wireless is the way of the future, the wireless divisions of these companies is the most hotly contested, and the focus of this "Battle of the Brands." It is important to note that despite Verizon Wireless bearing solely Verizon's name, it is not owned by just them, it is a 55%-45% joint venture between Verizon and Vodafone Group (NYSE: VOD). It is also important to note that AT&T Mobility is the service formerly known as Cingular, which was acquired by AT&T in 2006 when it bought BellSouth for $86B.

Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

AT&T, Inc. (NYSE: T) is the favorite conservative investment for 2007 from technical analyst Richard Sparks. The editor of Trend Maximizer observes, "The matronly telecom icon that was broken apart in 1984 -- and then merged with SBC Communications -- is making noise once again.

"AT&T has agreed to acquire southern Baby Bell BellSouth Corp. (NYSE: BLS) in a deal valued at $67 billion. The new T now boasts more than 49 million access lines in service. Cingular Wireless, the company's wireless joint venture with BLS, is the leading U.S. wireless carrier with more than 54 million subscribers in the fold.

"The firm reported better-than-expected third-quarter earnings of 63 cents per share on October 23. These results beat the consensus analyst estimate by five cents. Revenue rose 13.5% on a year-over-year basis to $21.36 billion, versus a consensus estimate of $21.33 billion. This news was met by at least one brokerage firm making positive comments and raising its price target for the stock.

Don't hold your breath that yesterday's FCC ruling will make it easier for the Baby Bells to enter the video delivery business.

Along partisan lines, the FCC voted 3-2 to put new rules in place that will require local cable franchising authorities to act on applications for access to local rights of way within 90 days, and to act within six months on applications from other new competitors.

This ruling represents a direct threat to the cable companies, who will now face greater competition. What do you think the cable companies and the supporting organizations will do? Sue and drag out the process as long as possible -- similar to what the Baby Bells did for years with the Telecom Act of 1996.

What is the best economic solution? The Baby Bells may want to buy Echostar Communications (NASDAQ:DISH) and DirecTV Group, Inc. (NYSE:DTV). This way they could buy all the franchise rights in one shot and avoid having to approach thousands of towns and communities to get franchise rights, saving time and money.