AT&T price target raised to $20 from $19 at Citi

Citi raised the firm’s price target on AT&T to $20 from $19 and keeps a Buy rating on the shares. The company reported solid Q4 results, with better than anticipated volumes from postpaid phones and fiber net adds and solid financial performance, the analyst tells investors in a research note. The firm believes AT&T is set up well to execute at the high end of its free cash flow guidance range for 2024 on modest sales growth and better EBITDA growth.