TD Cowen analyst Gregory Williams maintained a Hold rating on AT&T yesterday and set a price target of $32.00.
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Gregory Williams has given his Hold rating due to a combination of factors impacting AT&T’s performance. The company reported positive second-quarter results for 2025, with increased revenue and EBITDA, particularly in the wireline segment, and significant tax savings. However, the competitive landscape remains challenging, leading to a reduction in AT&T’s Mobile EBITDA guidance, as the company faces heightened competition and increased customer acquisition costs.
Despite these challenges, AT&T is making strategic moves to improve its financial position, such as accelerating its fiber-to-the-home build-out and increasing its free cash flow. The company also plans to boost its share buyback program and contribute more to its pension plan. While these efforts are promising, the ongoing competitive pressures and their potential impact on margins make a Hold rating appropriate at this time.
Williams covers the Communication Services sector, focusing on stocks such as AT&T, Charter Communications, and T Mobile US. According to TipRanks, Williams has an average return of -1.6% and a 48.75% success rate on recommended stocks.
In another report released yesterday, HSBC also downgraded the stock to a Hold with a $30.00 price target.