AT&T Stock Holds Steady After Solid 2Q Results, Reflects Lead-Sheathing Overhang
Portfolio Pulse from Anusuya Lahiri
AT&T (T) reported solid 2Q results with revenue of $29.9 billion, up 0.9% Y/Y, and EBITDA of $11.1 billion, beating estimates. The company hit its $6 billion run rate of annual savings ahead of schedule and plans to add an incremental $2 billion in the next three years. Analysts from Raymond James, Oppenheimer, and Goldman Sachs provided their ratings and price targets, with Raymond James reiterating a Strong Buy with a price target of $25, Oppenheimer maintaining a Perform rating, and Goldman Sachs maintaining a Buy but lowering the price target from $23 to $20.
July 27, 2023 | 6:04 pm
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AT&T reported solid 2Q results, beating estimates. The company is on track with its savings plan and analysts have provided their ratings and price targets.
AT&T reported solid 2Q results, beating estimates, which is a positive sign. However, the company's stock traded lower by 2.05% at the last check, which indicates that the market may have already priced in the positive earnings results. The ratings and price targets provided by the analysts are mixed, with Raymond James being the most bullish and Goldman Sachs being the most bearish. This could lead to some uncertainty in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100