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Investing.com - Evercore ISI raised its price target on AT&T (NYSE:T) to $28.00 from $27.00 on Thursday, while maintaining an "In Line" rating on the telecommunications company.
The firm cited AT&T management’s growing track record of executing well against its consistent strategy centered on 5G wireless/fiber, streamlining the cost base, and driving attractive EBITDA/FCF.
Evercore ISI noted this execution supports an improving balance sheet and growing capital returns program for AT&T.
Despite the price target increase, the research firm remains on the sidelines due to concerns about the broader wireless industry and its relative preference for Verizon (NYSE:VZ) and T-Mobile.
The new $28 price target implies 7.0x EV/EBITDA and 10.6x P/FCF on Evercore’s 2026 forecasts for AT&T.
In other recent news, AT&T Inc. reported its second-quarter 2025 earnings, which exceeded market expectations. The company announced an adjusted earnings per share (EPS) of $0.54, surpassing analysts’ projections of $0.53. Additionally, AT&T’s revenue for the quarter reached $30.8 billion, outperforming the anticipated $30.45 billion. Despite these favorable earnings and revenue figures, AT&T experienced a pre-market stock decline. This development comes amid a backdrop of ongoing financial assessments by various analyst firms. The earnings results are part of a series of recent developments that investors are closely monitoring.
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