AT&T's 5G, Broadband Growth Strategies Lead Analyst To Bullish Outlook
Portfolio Pulse from Priya Nigam
AT&T Inc (NYSE:T) has been upgraded from Neutral to Overweight by JPMorgan analyst Richard Choe, with a price target increase from $18 to $21, due to strong execution in wireless and broadband businesses and potential for long-term growth. The company's broadband is expected to benefit from ongoing fiber build and opportunities in new markets. AT&T's mobility base has stabilized, and it is rolling out mid-band 5G service, with an estimated 1.375 million postpaid phone adds in 2024. Wall Street analysts have a consensus Outperform rating on AT&T, with a notable optimistic outlook from Barclays' Kannan Venkateshwar. AT&T's stock has risen 13.17% in the past 3 months, with a 2.17% revenue increase over the past year.
February 01, 2024 | 4:39 pm
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POSITIVE IMPACT
AT&T has been upgraded by JPMorgan from Neutral to Overweight with a price target increase from $18 to $21, indicating strong potential for growth in its wireless and broadband segments.
The upgrade by JPMorgan reflects confidence in AT&T's long-term growth potential in wireless and broadband, supported by its ongoing fiber build and 5G service rollout. This positive analyst outlook, along with a consensus Outperform rating among Wall Street analysts, suggests a bullish short-term impact on AT&T's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Verizon Communications Inc. (NYSE:VZ) is mentioned as facing stiff competition from AT&T, which may impact investor perceptions of its competitive position.
While the article primarily focuses on AT&T's positive outlook, the mention of stiff competition from Verizon suggests potential challenges for Verizon in maintaining its competitive edge against AT&T's growth strategies. This could lead to a negative short-term impact on Verizon's stock as investor perceptions adjust.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50