Scotiabank Has Lowered Expectations for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T) had its price objective reduced by Scotiabank from $31.00 to $29.25 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Scotiabank’s price objective would indicate a potential upside of 33.02% from the stock’s previous close.

A number of other research analysts have also recently issued reports on T. Wells Fargo & Company began coverage on shares of AT&T in a research note on Wednesday, July 8th. They issued an “underweight” rating and a $18.00 price objective on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $25.00 target price on shares of AT&T in a research note on Monday. Oppenheimer downgraded AT&T from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 3rd. Weiss Ratings downgraded AT&T from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Finally, Wall Street Zen raised AT&T from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.34.

AT&T Trading Up 2.6%

T opened at $21.99 on Wednesday. AT&T has a twelve month low of $19.89 and a twelve month high of $29.79. The company has a 50-day simple moving average of $23.05 and a 200 day simple moving average of $25.32. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $152.79 billion, a price-to-earnings ratio of 7.38, a P/E/G ratio of 0.84 and a beta of 0.24.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 22nd. The technology company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. The firm had revenue of $31.51 billion for the quarter, compared to analyst estimates of $31.29 billion. AT&T had a net margin of 16.94% and a return on equity of 12.49%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. Analysts predict that AT&T will post 2.32 EPS for the current fiscal year.

Institutional Trading of AT&T

A number of hedge funds have recently made changes to their positions in T. Vanguard Group Inc. boosted its position in AT&T by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 664,055,700 shares of the technology company’s stock worth $16,495,144,000 after buying an additional 3,585,661 shares during the period. State Street Corp grew its holdings in AT&T by 2.6% during the 4th quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock worth $8,249,109,000 after acquiring an additional 8,314,678 shares during the last quarter. Bank of America Corp DE increased its position in AT&T by 4.6% in the 1st quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock valued at $3,629,307,000 after acquiring an additional 5,449,222 shares during the period. Norges Bank acquired a new position in AT&T in the 4th quarter valued at approximately $2,181,977,000. Finally, Bank of New York Mellon Corp raised its stake in shares of AT&T by 12.7% during the first quarter. Bank of New York Mellon Corp now owns 72,764,509 shares of the technology company’s stock valued at $2,109,443,000 after acquiring an additional 8,197,935 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting AT&T

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: AT&T said an AI system it built to prevent network outages has reduced customer downtime by more than 12 million hours, reinforcing the company’s network reliability story and suggesting potential service-quality and cost-efficiency benefits. Article Title
• Positive Sentiment: AT&T was named the “fastest connectivity provider” in a new Ookla analysis, which supports the company’s marketing message around superior wireless and fiber performance and could help customer acquisition and retention. Article Title
• Positive Sentiment: Several analysts have recently raised earnings estimates or reiterated bullish views on AT&T, including KeyCorp’s higher EPS forecasts and a $36 price target, while Scotiabank’s target of $29.25 still implies meaningful upside from current levels. Article Title
• Positive Sentiment: Hedge-fund positioning appears constructive, with large firms such as Capital World Investors and Goldman Sachs adding to AT&T holdings ahead of earnings, which can be read as a vote of confidence in the stock. Article Title
• Neutral Sentiment: AT&T disclosed $50,000 of Q2 lobbying activity covering spectrum rules, net neutrality, broadband support, and other regulatory issues. This is not a direct operating update, but it highlights ongoing policy risk and advocacy efforts. Article Title
• Neutral Sentiment: AT&T also generated attention from consumer- and business-oriented coverage around higher monthly fees and carrier-plan changes, but these items are more of a mixed backdrop than a clear near-term catalyst. Article Title
• Negative Sentiment: Scotiabank lowered its price target from $31 to $29.25 and kept a “sector perform” rating, which is a mild valuation headwind even though the revised target still sits above the current share price. Article Title

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.