Morgan Stanley analyst Benjamin Swinburne reiterated a Buy rating on AT&T today and set a price target of $32.00.
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Benjamin Swinburne has given his Buy rating due to a combination of factors including AT&T’s strong customer growth in both postpaid wireless and broadband sectors. The company reported its highest broadband net additions in eight years, showcasing significant progress in its AT&T Fiber and Fixed Wireless Access (FWA) services. This momentum aligns with the company’s long-term guidance, reinforcing confidence in its future performance.
Furthermore, Swinburne notes that despite a competitive industry environment, AT&T’s robust wireless postpaid net additions indicate improved execution in AT&T Mobility, which is expected to drive continued service revenue growth. The company’s ongoing network modernization efforts and the deployment of additional spectrum are anticipated to further enhance its broadband offerings. These factors contribute to an attractive risk-reward profile for AT&T shares, with a potential upside of 25% to the price target of $32.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a $30.00 price target.