RBC Capital raised the firm’s price target on AT&T to $28 from $27 and keeps an Outperform rating on the shares. The firm is adjusting its estimates ahead of the company’s Q1 results to reflect higher wireless churn in Q1 and the phasing of free cash flow through 2025, the analyst tells investors in a research note. RBC’s high price target also reflects higher valuation inputs that reflect the current interest rate environment, the firm adds.
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