AT&T price target raised to $28 from $24 at BofA

BofA analyst David Barden raised the firm’s price target on AT&T to $28 from $24 and keeps a Buy rating on the shares after the company hosted an investor day this week. The firm believes AT&T is well positioned to deliver on its revenue, EBITDA, and free cash flow growth targets which are enabling shareholder returns. The company’s go-forward, connectivity focused strategy continues to build directly on the playbook used since 2021, when AT&T refocused the company on wireless and broadband connectivity, the analyst tells investors in a research note.