Morgan Stanley Adjusts AT&T (T) Targets in Broader Look at the U.S. Wireless Market

Core Insights - AT&T Inc. is recognized as one of the best low-priced dividend stocks to buy according to analysts [1] - Morgan Stanley has adjusted its price target for AT&T to a range of $30 to $32 while maintaining an Overweight rating [2] Investment and Growth Strategy - AT&T is actively investing in infrastructure, having acquired EchoStar's spectrum for $23 billion and announced a $5.75 billion deal for Lumen Technologies' fiber assets, expected to close in early 2026 [3] - The acquisition of EchoStar's midband spectrum will enhance AT&T's network capacity [3] - The Lumen Technologies deal will allow AT&T to expand its fiber reach to 60 million locations by the end of the decade, adding approximately 4 million homes at a cost of $1,300 per location, which is below typical construction costs [4] - These transactions are anticipated to drive long-term growth in service revenue, adjusted EBITDA, and strong free cash flow generation for AT&T [4]