AT&T Expected to Rise on Strong Phone Net Additions and Robust Guidance: Analyst
Portfolio Pulse from Anusuya Lahiri
Goldman Sachs analyst James Schneider reiterated a Buy rating on AT&T Inc (NYSE:T) with a price target of $22. AT&T reported fiscal 2024 Q2 revenue of $29.8 billion, slightly below estimates, but showed strong free cash flow and robust phone net additions. The stock is expected to trade higher following these results.
July 24, 2024 | 4:20 pm
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POSITIVE IMPACT
Goldman Sachs analyst James Schneider reiterated a Buy rating on AT&T with a price target of $22. Despite slightly missing revenue estimates, AT&T showed strong free cash flow and robust phone net additions, which are expected to drive the stock higher.
The analyst's Buy rating and price target of $22, combined with strong phone net additions and robust free cash flow, are positive indicators for AT&T's stock. The stock is expected to trade higher following these results.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to AT&T's expected stock rise through the Vanguard Value ETF, which includes AT&T in its portfolio.
As AT&T is expected to trade higher, ETFs like Vanguard Value ETF that include AT&T in their portfolio may also see a positive impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
Investors can gain exposure to AT&T's expected stock rise through the Vanguard High Dividend Yield ETF, which includes AT&T in its portfolio.
As AT&T is expected to trade higher, ETFs like Vanguard High Dividend Yield ETF that include AT&T in their portfolio may also see a positive impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30
NEGATIVE IMPACT
AT&T's strong phone net additions and robust guidance are expected to drive its stock higher, especially in light of lowered expectations following a Verizon Communications report.
AT&T's strong performance and positive outlook may negatively impact Verizon as investors might shift their preference towards AT&T, especially after Verizon's less favorable report.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50