NEW YORK, USA: Some analysts expect shares in AT&T Inc to rise despite concerns about its ability to grow in wireless if its exclusive U.S. rights to sell Apple Inc' iPhone ends next year as is widely expected.

The November 23 edition of Barron's said JPMorgan analyst Michael McCormack sees the loss of iPhone exclusivity having a meaningful impact on AT&T's subscriber base.

But the paper said that Gabelli & Co analyst Sergey Dluzhevskiy believes "the loss of exclusivity in 2010 is already priced into the stock" and that the shares are actually worth about $34, which is well above their close of $26.02 on New York Stock Exchange on Friday.

The idea is that concerns about iPhone overlook the virtues of the country's biggest phone company including a robust cash flow and a 6.3 percent dividend yield.