Oppenheimer Raises AT&T Price Target to $32.00

Analysts at Oppenheimer recently raised their price target for AT&T (NYSE:T) from $27.00 to $32.00 in a report provided to investors on Tuesday. The firm has assigned an "outperform" rating for the stock, indicating that they believe it will perform better than the overall market. The new price target suggests a possible increase of approximately 12.46% based on AT&T's last closing price.

Brokerage Upgrades

In addition to Oppenheimer's upgrade, several other financial institutions have recently published their assessments of AT&T. DZ Bank upgraded their rating from "hold" to "buy" and set a target price of $27.00 on January 29. Tigress Financial also increased their price target to $32.00 while giving AT&T a "buy" rating on February 4. Meanwhile, Sanford C. Bernstein raised their target from $28.00 to $29.00 alongside an "outperform" rating, and New Street Research changed their view from "neutral" to "buy" back in December. Lastly, Morgan Stanley switched their evaluation from "equal weight" to "overweight" and lifted their price target from $19.00 to $28.00 in mid-December. Overall, the stock has a diverse mix of ratings, including one sell rating, five hold ratings, seventeen buy ratings, and one strong buy rating from various analysts, leading to a consensus rating of "Moderate Buy" with an average target price of $27.21.

Current Stock Performance

On Tuesday, shares of NYSE T rose by $0.18, reaching a price of $28.46. The trading volume for the day was 24,187,949 shares, which is lower than its average volume of 36,200,138 shares. Over the past year, AT&T's stock has fluctuated between a low of $15.94 and a high of $28.61. The company has a debt-to-equity ratio of 1.00 and a quick ratio of 0.62. Its current ratio stands at 0.66, and the stock’s moving averages are at $25.82 for the 50-day period and $23.59 for the 200-day period. The market capitalization of AT&T is approximately $204.26 billion, with a PE ratio of 19.10 and a beta of 0.56.

Earnings Report Highlights

AT&T released its earnings report on January 27, showcasing an earnings per share (EPS) of $0.54, which surpassed analysts’ expectations of $0.48 by $0.06. The company had a net margin of 8.95% and a return on equity of 13.97%. Analysts are forecasting an EPS of 2.14 for AT&T in the current year.

Institutional Holdings

Recently, several hedge funds have taken positions in AT&T’s shares. International Assets Investment Management LLC acquired a new stake worth about $14.7 million in the fourth quarter. Franklin Resources Inc. climbed their ownership of AT&T shares by 41.4%, amassing 7,947,913 shares valued at approximately $169 million after purchasing additional stock. Consolidated Planning Corp also increased its holdings by 7.4% during the fourth quarter, bringing its total to 320,089 shares worth $7.3 million. Additionally, West Family Investments Inc. raised their stake by 70.4%, now owning 37,961 shares valued at $864,000. Currently, institutional investors and hedge funds own about 57.10% of AT&T shares.

Company Overview

AT&T, Inc. is a major holding company engaged in telecommunications and technology services. Its operations are divided into two segments: Communications and Latin America. The Communications segment provides wireless and wireline telecom services as well as broadband to both business and residential customers in the U.S. and other markets worldwide.

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