TD Cowen Lowers AT&T (T) PT to $32 Following Mixed Q4 Results, Lower Promotional Activity

Core Viewpoint - AT&T Inc. is experiencing mixed performance in its Q4 2025 results, with varying price target adjustments from different analysts reflecting the company's financial health and market conditions [1][2][3]. Group 1: Analyst Ratings and Price Targets - TD Cowen lowered its price target for AT&T from $33 to $32 while maintaining a Hold rating, citing a shortfall in phone additions offset by stronger-than-expected EBITDA [1]. - Deutsche Bank analyst Bryan Kraft increased the price target for AT&T to $33 from $31, maintaining a Buy rating, following the company's strong Q4 2025 results and new three-year guidance [2]. - Oppenheimer reduced its price target for AT&T from $32 to $29 but kept an Outperform rating, noting that while the company met its 2025 targets, the communications sector is facing challenges such as higher wireless churn and slowing subscriber growth [3]. Group 2: Company Overview - AT&T Inc. provides telecommunications and technology services globally, operating through two segments: Communications and Latin America [4].