AT&T (T – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Ivan Feinseth from Tigress Financial remains neutral on the stock and has a $29.00 price target.
Ivan Feinseth has given his Buy rating due to a combination of factors impacting AT&T’s potential for growth and value creation. Feinseth recognizes the significant progress AT&T has made in expanding its wireless and wireline services, which bolsters its competitive stance and is expected to catalyze a resurgence in cash flow growth. The emphasis on operational efficiency by the company is projected to lead to improved margins. Alongside these elements, AT&T’s attractive dividend yield further strengthens the case for the stock as a compelling investment choice.
The report also underscores the role of technological advancements, particularly AT&T’s investment in 5G and fiber networks, which are anticipated to drive robust subscriber growth and accelerate the company’s business performance in the future. Feinseth points out that the expansion of these high-speed networks will not only support subscriber increases but will also enhance the company’s ability to offer value-added services. Additionally, strategic partnerships, like the one with Rivian to reduce CO2 emissions and promote smart connected vehicles, alongside prudent capital allocation towards growth initiatives and debt reduction, are seen as key drivers for elevating shareholder value over time.
Feinseth covers the Technology sector, focusing on stocks such as Apple, Fiserv, and Intel. According to TipRanks, Feinseth has an average return of 11.4% and a 62.00% success rate on recommended stocks.
In another report released on January 25, Deutsche Bank also maintained a Buy rating on the stock with a $24.00 price target.
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AT&T (T) Company Description:
AT&T, Inc. is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, Latin America and Xandr. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally. The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content over various physical and digital formats. The Latin America segment provides entertainment and wireless services outside of the U.S. The Xandar segment provides advertising services. The company was founded in 1983 and is headquartered in Dallas, TX.
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