AT&T price target raised to $31 from $30 at UBS

UBS raised the firm’s price target on AT&T to $31 from $30 and keeps a Buy rating on the shares. UBS believes Q2 wireless competition remained elevated as carriers maintained trade-in and switching offers for most of the quarter, and believes gross adds and churn will be higher year over year across the carriers as price increases, tariff headlines, richer promotions and a larger cohort of subscribers coming off contract stirs up activity, the analyst tells investors in a research note.