Telecom giant AT&T (T) is scheduled to announce its results for the fourth quarter of 2025 on January 28. While there are concerns about stiff competition and higher debt levels, several analysts are optimistic about AT&T due to the demand for bundled 5G wireless and fiber broadband plans and initiatives to bolster its network, including a $23 billion deal to acquire wireless spectrum licenses from EchoStar (SATS). According to TipRanks’ Options Tool, options traders expect about a 4.58% move in either direction in AT&T stock in reaction to Q4 2025 results.
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This implied move is higher than AT&T stock’s average post-earnings move (in absolute terms) of 2.56% over the past four quarters.
Meanwhile, Wall Street expects AT&T to report earnings per share (EPS) of $0.46 for Q4 2025, reflecting a 15% year-over-year decline. Revenue is expected to increase by 1.8% to $32.87 billion.
Analysts’ Views Ahead of AT&T’s Q4 Earnings
Heading into Q4 results, RBC Capital analyst Jonathan Atkin reiterated a Buy rating on AT&T stock and slightly lowered his price target to $29 from $30. For Q4 2025, Atkin expects the company to report postpaid phone net additions of 442,000 compared to the Street’s estimate of 432,000 and total broadband additions of 207,000, ahead of the consensus at 199,000. Atkin lowered his Q4 2025 EBITDA (earnings before interest, taxes, depreciation, and amortization) estimates for AT&T and many other players in the industry to reflect stiff competition and higher marketing and switching costs in the wireless business.
The 5-star analyst expects AT&T to report a slight slowdown in its wireless service revenue growth, offset by higher fiber contribution and cost efficiencies at the EBITDA level. Despite high fiber capital spending, Atkin is confident about AT&T’s ability to maintain or accelerate free cash flow growth compared to 2025. “We believe AT&T is in a position to accelerate migration from DSL and realize the cost savings from turning off 4,600 of its central offices sooner, as the company works towards its cost-reduction target of $6B,” said Atkin.
Meanwhile, KeyBanc analyst Brandon Nispel reiterated a Buy rating on AT&T stock with a price target of $30. The 4-star analyst expects the company to slightly surpass the Street’s expectations. Furthermore, Nispel expects AT&T’s 2026 outlook to be at least in line with the Street’s consensus estimate. While investor sentiment has been impacted by intense competition in the wireless space, Nispel remains bullish as he believes that AT&T is “likely the most competitively rational, has the best strategic positioning, and should remain able to show accelerating growth.” He added that all these positives, along with the company’s capital return, make AT&T stock attractive at current valuations.
AI Analyst Is Bullish on AT&T Stock
TipRanks’ AI Analyst has an Outperform rating on AT&T stock, with a price target of $27 indicating an upside potential of 14.5%. AI Analyst’s bullish stance is based on the company’s financial performance and attractive valuation. That said, technical indicators suggest bearish momentum. Also, the AI Analyst noted that high debt levels and elevated competition pose risks.
Is AT&T Stock a Buy, Sell, or Hold?
Currently, Wall Street has a Moderate Buy consensus rating on AT&T stock based on nine Buys, four Holds, and one Sell recommendation. The average AT&T stock price target of $29.46 indicates 25% upside potential.
