Movement Alert｜AT&T Inc Falls 3.1% in After-Hours Trading, Fiber JV and AI Partnership Fail to Offset Price Target Cuts

Market Focus10-09

On October 8, AT&T Inc declined 3.1% in after-hours trading to $24.16 per share, with turnover of $18.59 million.

The decline came despite the company's announcements of a U.S. fiber joint venture with Global Infrastructure Partners and Canada Pension Plan Investment Board, as well as an internal legal design partnership with OpenAI. However, a series of target price reductions weighed on valuation expectations. Scotiabank lowered its price target to $27.50 from $29.25 while maintaining a sector perform rating, and Arete Research cut its target to $23 from $28 with a neutral rating.

AT&T Inc provides telecommunications and technology services worldwide. The company operates through Communications and Latin America segments, offering wireless voice and data services, broadband fiber connections, and enterprise solutions. It markets services under the AT&T, Cricket, AT&T PREPAID, and AT&T Fiber brands, and is headquartered in Dallas, Texas.

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