5 Stocks Receiving Price Target Hikes After Earnings Beat

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

Number of Hedge Fund Holders: 61

Cowen raised its price target for AT&T Inc. (NYSE:T) from $24 per share to $25 per share on Thursday, January 26, citing the company’s good quarterly performance. The telecommunications giant posted adjusted earnings of 61 cents per share for Q4, up from 56 cents per share in the year-ago period.

Revenue came in at $31.3 billion, representing a surge of less than one percent on a year-over-year basis. Analysts expected AT&T Inc. (NYSE:T) to earn 57 cents per share on revenue of $31.4 billion.

Speaking on the results, CEO of AT&T Inc. (NYSE:T), John Stankey, said in a statement:

“We met or surpassed all of our profitability targets for the year, all while investing at record levels to bring the benefits of our 5G and fiber technologies to even more people. As we enter 2023, I’m confident in the trajectory of our business and in our team’s ability to deliver profitable and durable growth for our shareholders.”