Goldman Sachs Forecasts AT&T (T) Buyback Ramp-Up Fueled by 8% Free Cash Flow Growth

AT&T Inc. (NYSE:T) is one of the best high volume stocks to buy right now. On December 19, Goldman Sachs lowered the firm’s price target on AT&T to $29 from $33 while maintaining a Buy rating on the shares. The firm expects AT&T to ramp up share repurchases as its free cash flow grows at an 8% CAGR through 2029 from strong Mobility results and an expanding fiber network that benefits from the Lumen acquisition. By prioritizing convergence and industry-leading investment, AT&T is building a network capable of handling future AI demands while delivering improved returns to shareholders.

On December 15, Wolfe Research analyst Peter Supino downgraded AT&T to Peer Perform from Outperform without setting a price target on the shares. This sentiment was posted as the firm downgraded the overall telecom and cable sector to Market Weight due to a lack of recovery from the declining KPIs observed in late 2025.

Goldman Sachs Forecasts AT&T (T) Buyback Ramp-Up Fueled by 8% Free Cash Flow Growth

Additionally, earlier on December 10, Morgan Stanley also cut the price target on AT&T to $30 from $32 while keeping an Overweight rating on the shares. In a 2026 outlook for the telecom sector, Morgan Stanley maintained a positive view on the consolidated US wireless market, driven by a healthy growth environment that favors AT&T. The company’s ongoing fiber expansion was also highlighted as a significant competitive advantage.

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

While we acknowledge the potential of T to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than T and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.