Are Wall Street Analysts Bullish on AT&T Stock?

Company Overview - AT&T Inc. has a market capitalization of $182.5 billion and is a prominent telecommunications and technology services provider, offering wireless, broadband, and entertainment services globally [1] Stock Performance - Over the past 52 weeks, AT&T shares have increased by 16.2%, underperforming the S&P 500 Index, which returned 18.3% during the same period [2] - Year-to-date, AT&T shares are up 12.9%, while the S&P 500 has risen by 17.2% [2] - Compared to the Communication Services Select Sector SPDR ETF Fund, which surged 27.5% over the past 52 weeks, AT&T has lagged behind [3] Recent Financial Results - For Q3 2025, AT&T reported revenue of $30.7 billion and adjusted EPS of $0.54, both below consensus estimates [4] - The revenue shortfall was attributed to lower-than-expected equipment sales in the mobility segment, despite a 6.1% increase in equipment revenue to $4.79 billion [4] - Operating costs rose by 3.8% due to increased marketing and promotion expenses, raising concerns about margin pressure ahead of the high-cost Q4 upgrade cycle [4] Earnings Outlook - Analysts project an 8.9% year-over-year decline in AT&T's adjusted EPS for the current fiscal year, expected to be $2.06 [5] - The company's earnings surprise history is mixed, with two beats and two misses in the last four quarters [5] Analyst Ratings - Among 30 analysts covering AT&T, the consensus rating is a "Moderate Buy," consisting of 15 "Strong Buy" ratings, three "Moderate Buys," 11 "Holds," and one "Strong Sell" [5] - This rating configuration is less bullish than three months ago when there were 17 "Strong Buys" [6] Price Target - Goldman Sachs raised AT&T's price target to $33 with a "Buy" rating [6] - The mean price target of $30.46 indicates an 18.5% premium to AT&T's current price, while the highest price target of $34 suggests a potential upside of 32.3% [6]