Are Wall Street Analysts Predicting AT&T Stock Will Climb or Sink?

With a market cap of $178.2 billion, AT&T Inc. (T) is a global telecommunications and technology company that delivers wireless, broadband, and enterprise connectivity services through its Communications and Latin America segments. It serves consumers, businesses, and government clients with offerings ranging from mobile services and fiber internet to managed networking solutions and devices.

Shares of the Dallas, Texas-based company have underperformed the broader market over the past 52 weeks. The stock has declined 4.8% over this time frame, while the broader S&P 500 Index ($SPX) has returned 29.8%. In addition, shares of AT&T are up 2.7% on a YTD basis, compared to SPX’s 4.8% gain.

Moreover, the telecom giant's stock has lagged behind the State Street Communication Services Select Sector SPDR ETF’s (XLC) 22.7% surge over the past 52 weeks.

Shares of AT&T recovered marginally on Apr. 22 due to better-than-expected Q1 2026 adjusted EPS of $0.57 and revenue growth of 2.9% to $31.5 billion, driven by strong wireless and fiber performance. Subscriber growth also helped sentiment, with 294,000 postpaid phone net adds (above estimates), 158,000 retail wireless additions, and 584,000 new internet subscribers pushing total connections to 14.8M (up 30%). Additionally, increased bundling (45% of fiber customers also taking wireless) and momentum in advanced connectivity offset concerns about a 25.3% decline in legacy revenue and a 19% drop in free cash flow to $2.5 billion.

For the fiscal year ending in December 2026, analysts expect AT&T's adjusted EPS to grow nearly 9% year-over-year to $2.31. The company's earnings surprise history is mixed. It beat the consensus estimates in three of the last four quarters while missing on another occasion.

Among the 28 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 14 “Strong Buy” ratings, three “Moderate Buys,” and 11 “Holds.” 

On Apr. 23, Scotiabank trimmed its price target on AT&T to $31 while maintaining a “Sector Perform” rating.

The mean price target of $30.63, representing a premium of 20% to AT&T's current price. The Street-high price target of $36 suggests a 41.1% potential upside.