This telcom company that’s trailing the market is ready for big upside, analysts say

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This telcom company that’s trailing the market is ready for big upside, analysts say

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. In April, the company surpassed Wall Street’s first-quarter earnings estimates but slightly undershot revenue forecasts, according to FactSet. AT & T reiterated its full-year forecast, which calls for adjusted earnings of between $2.15 and $2.25 per share. “T’s wireless and consumer wireline businesses continue to be bright spots, more than offsetting the recent network outage/cyberattack noise and business wireline headwinds,” Wells Fargo analyst Eric Luebchow said in late April. “We view risk/reward as very favorable with guidance reiterated.” The analyst maintains an overweight rating on AT & T stock with a $20 per share price target, implying 15% upside moving forward. AT & T said its wireless service revenue growth will rise around 3% this year, while free cash flow should be between $17 billion and $18 billion in 2024. In the first quarter, the company said it reported the lowest level of postpaid customer churn for that time.

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AT&T Inc,Markets,Investment strategy,Wells Fargo & Co,JPMORGAN DRN,Earnings,Dividends,business news
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