AT&T (T) stock has fallen 1.6% over the past week, 9.1% over the past month, and 0.3% over the past year, reflecting recent pressure despite longer-term stability. Wall Street’s analysts are moderately bullish, forecasting a move toward a 12‑month average price target of $30.65 from the last close at $25.98.
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Analyst Michael Funk of Bank of America reiterated his Buy rating on AT&T on April 22, 2026, setting a price objective of $34, implying solid upside from current levels. He sees the latest first‑quarter 2026 results as consistent with AT&T’s strategy of balanced growth and notes that management has reiterated full‑year guidance.
Funk highlights improving ARPU and margin trends expected in the second quarter, along with better than seasonal fiber net additions, helped by backlog in legacy Lumen territories. He also points to evolving converged offerings, as AT&T adjusts its service bundles to changing market conditions and customer needs.
Financially, AT&T’s first‑quarter numbers were slightly ahead or in line with Street expectations, with revenue of $31.5 billion topping consensus $31.2 billion and adjusted EPS of $0.57 beating $0.55. Free cash flow of $2.5 billion was slightly better than forecasts, while post‑paid phone net adds of 294,000 beat expectations despite a small shortfall in wireless service revenue.
Funk, who ranks 11,826 out of 12,161 analysts on TipRanks with a 38.10% success rate and an average return of -8.40% per rating, still calls AT&T his top U.S. telecom pick, citing its mix of wireless and fixed assets, attractive dividend, buybacks, and improving cash flow and EPS growth. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.