Goldman Sachs lowered the firm’s price target on AT&T to $29 from $33 and keeps a Buy rating on the shares. AT&T is positioned to generate an 8% free cash flow CAGR through 2029, supporting accelerating share repurchases, driven by steady Mobility EBITDA growth, rapidly expanding fiber passings, and improving Business Wireline trends, the analyst tells investors in a reserach note. Industry-leading capital investment and a growing fiber footprint, potentially enhanced by the Lumen Mass Markets acquisition, should strengthen convergence benefits and position the network for rising AI-driven traffic, the firm adds.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on T:
- EchoStar Stock (SATS) Jumps despite Antitrust Alarm over $40B AT&T, SpaceX Deals
- BofA adds Estee Lauder to ‘US 1 list,’ removes AT&T
- AT&T downgraded to Peer Perform from Outperform at Wolfe Research
- EchoStar jumps on SpaceX IPO talk, Morgan Stanley upgrade
- AT&T price target lowered to $30 from $32 at Morgan Stanley