AT&T Price Target Raised to $32 by Morgan Stanley Analyst

Morgan Stanley analyst Benjamin Swinburne has raised the price target for AT&T (T) shares from $31 to $32, maintaining an Overweight rating. The average target price from 27 analysts is $28.90 with a high estimate of $32.00 and a low estimate of $19.00, suggesting an upside of 6.96% from the current price. AT&T reported growth in consolidated service revenue and adjusted EBITDA, driven by strong postpaid phone and fiber net additions.

Morgan Stanley analyst Benjamin Swinburne has raised the price target for AT&T (T) shares from $31 to $32, maintaining an Overweight rating. The average target price from 27 analysts is $28.90, with a high estimate of $32.00 and a low estimate of $19.00, suggesting an upside of 6.96% from the current price [1].

AT&T reported growth in consolidated service revenue and adjusted EBITDA, driven by strong postpaid phone and fiber net additions. The company's wireless services, serviced by 222.84 million subscribers and connections as of the first quarter of 2023, continue to show robust growth [2]. This performance has led several analysts to increase their price targets, with TD Securities, Tigress Financial, Oppenheimer, Royal Bank of Canada, and Bank of America all raising their estimates in recent months.

The latest earnings results showed that AT&T missed analysts' consensus estimates of $0.52 EPS by ($0.01), reporting $0.51 EPS for the quarter. However, the company's revenue increased by 2.0% year-over-year to $30.63 billion, driven by strong performance in its Communications segment. The firm's market cap stands at $194.28 billion, with a price-to-earnings ratio of 16.56 and a PEG ratio of 3.39.

Institutional investors and hedge funds have also shown significant interest in AT&T, with several funds increasing their holdings in the second quarter. Essex Financial Services Inc., Dakota Wealth Management, Perigon Wealth Management LLC, Plancorp LLC, and Motive Wealth Advisors all expanded their stakes in AT&T, indicating strong confidence in the company's prospects.

The strong performance of AT&T's wireless services and positive analyst sentiment suggest that the stock may continue to perform well in the near term. However, investors should remain vigilant and consider the broader market conditions and potential risks before making any investment decisions.

References:
[1] https://www.marketbeat.com/instant-alerts/att-nyset-stock-price-expected-to-rise-morgan-stanley-analyst-says-2025-07-16/
[2] https://www.statista.com/statistics/1125140/total-mobility-subscribers-connections/