AT&T: Dividend Increases Could Return, Bringing Valuation Multiple Expansion

jetcityimageIntroduction In my previous AT&T (NYSE:T) article, I had a buy rating on the company. At the time, I had two main reasons for this opinion. One, the macroeconomic conditions were expected to form a tailwind for AT&T in 2024 as the federal funds rate declined. Two, AT&T's core telecommunications operation has been stable in bringing cash flow and moderate growth. Thus, for these reasons, I was bullish. Today, I continue to stand by my previous arguments. The Federal Reserve is still expected  ...