On July 17, AT&T rose 3.37% in regular trading, trading at $22.415/share with turnover of $298 million, as investor sentiment improved ahead of the company's upcoming quarterly earnings report.
AT&T is scheduled to release its latest quarterly results on July 22. Market consensus expects earnings per share of $0.59, up from $0.57 in the prior quarter, reflecting continued profit improvement. Institutions broadly maintain an overweight rating on the stock, with a mean target price of $29.31, implying significant upside from current levels. Last quarter, AT&T posted revenue of $31.506 billion, up 2.87% year-over-year, with adjusted EPS of $0.57 representing 11.77% growth.
The stock had previously declined over 27% since April, pressured by concerns over Starlink satellite broadband competition and a downgrade from Oppenheimer citing low-earth orbit constellation risks to broadband subscriber growth. Morgan Stanley also trimmed its target to $25 from $30, while Bernstein cut its target to $25 from $30 maintaining an outperform rating. The pre-earnings rebound suggests the market may be pricing in stabilization as institutional consensus remains constructive.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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