AT&T Has 'A Number Of Tailwinds,' Says Bullish Analyst
Portfolio Pulse from Priya Nigam
AT&T Inc (NYSE:T) is expected to report Q4 results on Jan. 24, with positive outlook from Oppenheimer analyst Timothy Horan who upgraded the stock to Outperform with a $21 price target. Horan cites the company's transition to a pure connectivity provider, improved network, price increases on unlimited plans, and a high percentage of fiber broadband subscribers as key tailwinds. He also anticipates potential cost-saving synergies from a DirecTV merger and projects a 12% growth in free cash flows to $18.5 billion in fiscal 2024. AT&T shares rose by 1.46% to $16.65.
January 19, 2024 | 5:19 pm
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AT&T upgraded to Outperform by Oppenheimer with a $21 price target, ahead of Q4 results. Analyst sees positive revenue impact from price increases and potential DirecTV synergies.
The upgrade by Oppenheimer suggests a bullish outlook for AT&T, which could lead to increased investor confidence and a potential rise in stock price. The anticipation of positive Q4 results and the mentioned tailwinds are likely to have a favorable impact on the stock in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100