Movement Alert｜AT&T Inc. Intraday Rise 3.31% in Regular Trading, rebound follows recent telecom selloff and analyst target resets

Market Focus10-29 22:09

On October 29, AT&T Inc. rose 3.31% in Regular Trading, trading at $21.3898/share, with turnover of $150 million.

The most relevant recent backdrop is event-driven: the stock had been pressured by sector-wide concerns that SpaceX could expand into US mobile services using a large base-station footprint, while analysts also reset valuation targets after AT&T reported quarterly results. AT&T previously posted quarterly revenue of $32.3 billion and adjusted EPS of $0.65, both above expectations, but postpaid phone net additions of 379,000 were slightly below consensus, and the company lifted full-year adjusted EPS guidance to about $2.40. More recently, Bernstein kept a Market Perform stance on the major US telecom carriers and set AT&T's target price at $24, following its earlier downgrade of AT&T to Market Perform.

(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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