Scotiabank Issues Pessimistic Forecast for AT&T (NYSE:T) Stock Price

Key Points

• Scotiabank cut its price target on AT&T from $31.00 to $29.25 and kept a sector perform rating, though the new target still implies upside from the current share price.
• AT&T’s stock was up 1.4% to $21.57, trading below both its 50-day and 200-day moving averages, while the company remains valued at a low P/E ratio of 7.23.
• Analyst sentiment is mixed overall: the consensus rating is Moderate Buy with a consensus price target of $29.34, while recent updates include both higher and lower targets from major firms.

AT&T (NYSE:T - Get Free Report) had its target price decreased by equities research analysts at Scotiabank from $31.00 to $29.25 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the technology company's stock. Scotiabank's price target points to a potential upside of 35.62% from the company's current price.

Several other research analysts have also weighed in on the company. Oppenheimer lowered AT&T from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 3rd. BNP Paribas Exane reduced their price target on AT&T from $28.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Citigroup boosted their price target on AT&T from $29.00 to $31.50 and gave the company a "buy" rating in a research note on Monday, March 23rd. Morgan Stanley dropped their price objective on AT&T from $30.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $31.00 price objective on shares of AT&T in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $29.34.

AT&T Stock Up 1.4%

Shares of AT&T stock traded up $0.29 on Wednesday, hitting $21.57. 3,264,561 shares of the company traded hands, compared to its average volume of 47,658,125. The company has a 50-day moving average price of $23.19 and a 200 day moving average price of $25.36. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 1.05. AT&T has a 12-month low of $19.89 and a 12-month high of $29.79. The company has a market cap of $149.86 billion, a PE ratio of 7.23, a PEG ratio of 0.88 and a beta of 0.24.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.02. The business had revenue of $31.51 billion for the quarter, compared to the consensus estimate of $31.29 billion. AT&T had a net margin of 16.94% and a return on equity of 12.49%. AT&T's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Sell-side analysts predict that AT&T will post 2.31 earnings per share for the current year.

Institutional Trading of AT&T

Several large investors have recently made changes to their positions in T. Tsfg LLC raised its stake in AT&T by 3.6% during the fourth quarter. Tsfg LLC now owns 10,656 shares of the technology company's stock valued at $265,000 after buying an additional 366 shares during the last quarter. Lifestyle Asset Management Inc. grew its stake in shares of AT&T by 3.6% in the fourth quarter. Lifestyle Asset Management Inc. now owns 10,511 shares of the technology company's stock worth $261,000 after acquiring an additional 368 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of AT&T by 1.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 31,970 shares of the technology company's stock worth $794,000 after acquiring an additional 370 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of AT&T by 1.7% during the fourth quarter. Bruce G. Allen Investments LLC now owns 22,398 shares of the technology company's stock valued at $556,000 after acquiring an additional 374 shares in the last quarter. Finally, Rockline Wealth Management LLC increased its holdings in shares of AT&T by 3.8% during the fourth quarter. Rockline Wealth Management LLC now owns 10,445 shares of the technology company's stock valued at $259,000 after acquiring an additional 378 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Key Stories Impacting AT&T

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: KeyCorp raised its earnings estimates for AT&T across several periods and kept an Overweight rating with a $36 price target, signaling confidence in the company’s earnings trajectory.
• Positive Sentiment: AT&T said it is the fastest connectivity provider, citing Ookla data showing customers with AT&T Wireless and Fiber experience the fastest converged speeds in the U.S., which could support its competitive positioning. Article: AT&T is the Fastest Connectivity Provider
• Neutral Sentiment: AT&T is getting attention for its move away from copper landlines in Nevada and California, reflecting the ongoing shift away from legacy wireline infrastructure. Article: AT&T copper landlines expected to be out of Nevada by 2030
• Negative Sentiment: AT&T phone bills are expected to rise in early August due to a higher monthly fee, which could weigh on customer sentiment and churn risk. Article: AT&T phone bills are going up. See why, and by how much
• Negative Sentiment: Bernstein cut price targets for AT&T and other telecom names after factoring in Starlink’s growing competitive threat, adding to broader sector weakness. Article: SpaceX's Starlink threat causes Bernstein to cut Verizon, AT&T, Comcast PTs

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T's product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.

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