AT&T stock price target raised to $33 by Raymond James on growth outlook

Investing.com - Raymond James has raised its price target on AT&T (NYSE:T) to $33.00 from $31.00 while maintaining a Strong Buy rating on the telecommunications company.

The investment firm cited AT&T’s wireless post-paid subscriber growth, earnings per share (EPS) growth, and free cash flow (FCF) growth as critical factors supporting its positive outlook for the company.

Raymond James views AT&T as its "best large cap total return story over the next 12 months" and adjusted its estimates following recent management commentary during September industry conferences.

The firm believes its current growth and EBITDA margin projections are appropriate at the lower end of AT&T’s guidance ranges, based on industry commentary suggesting continued competition in the telecommunications sector.

Raymond James noted that T-Mobile (NASDAQ:TMUS) remains the most aggressive competitor in taking market share, while cable companies are actively re-pricing their customer base and pursuing wireless subscribers to slow their broadband customer losses.

In other recent news, Token Cat Limited announced a share purchase agreement to sell its entire equity interest in a group of subsidiaries for a nominal cash consideration of $1, pending shareholder approval. The subsidiaries include several entities, such as Long Ye International Limited and Beijing Sangu Maolu Information Technology Co., Ltd. Meanwhile, Deutsche Bank has raised its price target for Echostar Holdings to $102 from $67, maintaining a Buy rating. This adjustment follows Echostar’s announcement of a $17 billion spectrum sale to SpaceX, with the payment split equally between cash and SpaceX equity. AT&T reiterated its financial guidance for 2025 and confirmed plans for $20 billion in share repurchases between 2025-2027. Additionally, Bernstein SocGen Group increased its price target for AT&T to $32 from $31, citing the company’s acquisition of spectrum from Echostar for $23 billion. The telecommunications sector has been abuzz with these developments, reflecting shifts in strategic positioning and market competition.

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