13 Cheap Stocks Under $50 to Buy Now

3. AT&T Inc. (NYSE:T)

Stock Price: $27.02

Forward P/E: 13.06

Number of Hedge Fund Holders: 87

AT&T Inc. (NYSE:T) is one of the best cheap stocks under $50 to buy now. On July 16, Morgan Stanley analyst Benjamin Swinburne raised the firm’s price target on AT&T Inc. (NYSE:T) to $32 from $31, keeping an Overweight rating on the shares.

AT&T Inc. (NYSE:T) announced on June 10 that it surpassed more than 30 million fiber locations, edging halfway closer to its objective of reaching around 60 million businesses and homes across America.

The company is focused on expanding its fiber offerings in a number of ways, which includes expanding its commercial open-access agreements, organic in-region fiber network, public-private partnerships, Gigapower joint venture, and its plans to acquire all of Lumen’s Mass Markets fiber business, encompassing over 4 million fiber locations across 11 states and about 1 million fiber customers.

AT&T Inc. (NYSE:T) provides telecommunications and technology services and operates through the Communications and Latin America segments. Its Communications segment offers wireline telecom, wireless, and broadband services in the US and globally, while the Latin America segment manages services in Mexico.