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AT&T Poised for Growth, Says Bullish Analyst AT&T Poised for Growth, Says Bullish Analyst


AT&T Inc T is scheduled to report its fourth-quarter results on Jan. 24.

Transitioning to a pure connectivity provider, AT&T has successfully overcome previous challenges, according to Oppenheimer.

The AT&T Analyst: Timothy Horan upgraded the rating for AT&T to Outperform while maintaining the price target at $21.

The AT&T Outlook: Horan’s bullish stance is rooted in the belief that the stock is in prime position to benefit from a series of favorable factors.

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Having significantly enhanced its network in 2023, AT&T is set to raise prices on its core unlimited plans, potentially yielding an additional $700-$800 million in revenue, as noted by the analyst.

“60% of T’s broadband subscribers now utilize fiber, where the company enjoys more robust margins and has the capacity to further increase rates as it is currently priced below cable,” he added.

“We believe T will have the ability to merge its remaining stake in DirecTV, which should deliver further cost-saving synergies,” Horan wrote. The analyst further stated that AT&T has strong free cash flows, which could grow 12% to $18.5 billion in fiscal 2024.

T Price Performance: At the time of publication on Friday, shares of AT&T had risen by 1.46%, reaching $16.65.

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