AT&T price target lowered to $30 from $32 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on AT&T (T) to $30 from $32 and keeps an Overweight rating on the shares. The U.S. wireless industry remains consolidated, supporting “a healthy growth environment” for Overweight rated T-Mobile (TMUS) and AT&T, with the latter’s fiber expansion an additional benefit, the analyst tells investors as part of a telecom and cable services look ahead note on 2026. The firm is lowering estimates for Equal Weight rated Verizon (VZ) to reflect a more market share focused go-to-market in 2026 and trimming price targets for the other two of the “big three” to reflect this reality as well.