Arete Upgrades AT&T (T) on Copper Switch-Off, Sets $28 Price Target

AT&T Inc. (NYSE:T) is included among the 14 Low PE High Dividend Stocks to Buy Right Now.

Arete Upgrades AT&T (T) on Copper Switch-Off, Sets $28 Price Target

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On March 10, Arete analyst Andrew Beale upgraded AT&T Inc. (NYSE:T) to Neutral from Sell. It set a $28 price target on the shares. The firm raised its estimates to reflect the company’s copper switch-off, which lifted its financial outlook and led to the upgrade. Even so, Arete said it still prefers shares of T-Mobile (TMUS) and Verizon (VZ) over AT&T.

A Reuters report on March 10 said AT&T plans to invest more than $250 billion in the United States over the next five years to expand its network infrastructure. The company also plans to hire thousands of technicians to support the build-out. The spending will focus on expanding fiber and wireless networks. That includes faster deployment of fiber broadband, 5G home internet, and satellite connectivity across urban, suburban, and rural areas.

The investment reflects rising demand for data, driven by artificial intelligence, cloud computing, and connected devices. Telecom companies are also competing more directly with cable broadband providers. Analysts also pointed to AT&T’s partnership with AST SpaceMobile as an area investors are watching as the company works to expand coverage.

The investment push comes as competition in the sector intensifies. Comcast is expanding its network, while Verizon Communications is accelerating broadband growth following its acquisition of Frontier Communications.

AT&T Inc. (NYSE:T) is a holding company and provides telecommunications and technology services globally. The company operates through two segments: Communications and Latin America.

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