U.S. markets open in 2 hours 50 minutes

  • S&P Futures

    4,162.75
    -13.00 (-0.31%)
     

  • Dow Futures

    34,124.00
    -82.00 (-0.24%)
     

  • Nasdaq Futures

    12,750.25
    -26.50 (-0.21%)
     

  • Russell 2000 Futures

    1,968.60
    -10.70 (-0.54%)
     

  • Crude Oil

    77.94
    +0.80 (+1.04%)
     

  • Gold

    1,893.20
    +8.40 (+0.45%)
     

  • Silver

    22.47
    +0.29 (+1.30%)
     

  • EUR/USD

    1.0752
    +0.0021 (+0.19%)
     

  • 10-Yr Bond

    3.6740
    0.0000 (0.00%)
     

  • Vix

    18.83
    -0.60 (-3.09%)
     

  • GBP/USD

    1.2097
    +0.0045 (+0.37%)
     

  • USD/JPY

    130.6640
    -0.4080 (-0.31%)
     

  • BTC-USD

    23,188.30
    +201.07 (+0.87%)
     

  • CMC Crypto 200

    535.07
    +9.12 (+1.73%)
     

  • FTSE 100

    7,925.67
    +60.96 (+0.78%)
     

  • Nikkei 225

    27,606.46
    -79.01 (-0.29%)
     

AT&T Likely To Grow Volumes And Revenue Amid Cost Cuts, Analyst Says

Anusuya Lahiri
·1 min read

  • Citigroup analyst Michael Rollins maintained AT&T Inc (NYSE: T) with a Buy and raised the price target from $20 to $22.

  • The analyst expects AT&T to report generally in-line financials when it reports 4Q22 earnings on Jan. 25, 2023, while appreciating the prospects for the company to guide for financial growth on overall service revenue, EBITDA, and FCF for 2023.

  • Management commentary from Citi’s CME Conference left Rollins comfortable with recent (4Q) strategic volume growth and the prospects during 2023.

  • The analyst believes investors are looking for FCF growth on AT&T’s definition in 2023 over 2022 (consistent with recent management commentary) relative to the VA consensus ($15.0-16.3 billion, depending on method) and his expectation ($15.7 billion).

  • Rollins remains positive on AT&T shares, with opportunities to grow strategic volumes and revenue while cutting costs to support better EBITDA and FCF in 2023 over 2022.

  • The re-rating reflected the recent moderation in rates.

  • Also Read: Verizon Clocks 1.43M Retail Postpaid Net Additions In Q4, FY23 Outlook Lags Wall Street Consensus

  • Price Action: T shares traded higher by 0.68% at $19.23 on the last check Tuesday.

  • Photo Via Company

Latest Ratings for T

Date

Firm

Action

From

To

Mar 2022

TD Securities

Downgrades

Buy

Hold

Feb 2022

JP Morgan

Upgrades

Neutral

Overweight

Feb 2022

Raymond James

Maintains

Outperform

View More Analyst Ratings for T

View the Latest Analyst Ratings

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article originally appeared on Benzinga.com

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Recommended Stories

  • Why Biden’s 4% buyback tax could boost stock prices and dividends

    The Biden administration’s new stock buyback tax will have little impact on the overall stock market. This tax has set off alarm bells in some corners of Wall Street, on the theory that buybacks were one of the biggest props supporting the past decade’s bull market — and anything weakening that prop could lead to much lower prices. One reason is that the new excise tax — whether 1% or 4% — is applied to net buybacks — repurchases in excess of how many shares the corporation may have issued.

  • BlackRock Bets Big on These 2 High-Quality and Profitable Stocks

    We’ve seen the markets take a breather recently and that is hardly surprising considering the year-to-date rally. Stocks charged out the gate in 2023 as if in a hurry to consign 2022’s annus horribilis to the history bins. Observing the sharp and abrupt shift in sentiment, BlackRock's bond chief Rick Rieder has called the surge "extraordinary." However, Rieder, who handles around $2.4 trillion in assets, is not quite ready to get the bull outfit on just yet. Given the widespread compression in p

  • NIO Inc. (NIO) Stock Sinks As Market Gains: What You Should Know

    NIO Inc. (NIO) closed the most recent trading day at $10.92, moving -0.09% from the previous trading session.

  • The Worst Mistake AMD Investors Can Make in 2023

    The chipmaker's guidance for the current quarter isn't great, but there's more to it than meets the eye.

  • BP hikes dividend, Apollo in talks for Credit Suisse unit, SoftBank battles slumping valuations

    Yahoo Finance's Julie Hyman breaks down notable business headlines, which include BP posting record profits and slowing its shift away from oil, Apollo Global Management exploring a stake in a Credit Suisse unit, and SoftBank's vision fund battling hit by a tech slump. (Apollo Global Management is Yahoo Finance's parent company.)

  • Tesla, Amazon, and Alphabet Split Last Year. In 2023, These Are the Top Stock-Split Candidates

    The U.S. inflation rate tipped the scales at its highest level in 40 years (9.1%), and the all three major U.S. stock indexes were, at one point, firmly entrenched in a bear market. A stock split is an event that allows a publicly traded company to alter its share price and outstanding share count without any impact to its market cap or operations. A forward stock split reduces a company's share price to make it more nominally affordable for retail investors.

  • Lumen Technologies (LUMN) Q4 2022 Earnings Call Transcript

    Image source: The Motley Fool. Lumen Technologies (NYSE: LUMN)Q4 2022 Earnings CallFeb 07, 2023, 5:00 p.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGreetings, and welcome to the Lumen Technologies fourth quarter 2022 earnings conference call.

  • The Ultimate Warren Buffett Stock Is Near A Buy Point, But Should You Buy It?

    Berkshire Hathaway is the ultimate Warren Buffett stock. It is near an entry but is it a good buy? Here's what earnings and charts show for Berkshire stock.

  • World's Largest Hedge Fund Founder Ray Dalio Says Cash Is "In Jeopardy" but Sees an Unexpected Solution

    Inflation has been a massive issue for nearly every major country for the past year or so. Consumers and corporations alike have felt the pain, with the previous four quarters of earnings proving to be relatively lackluster. While inflation is slowly declining, it has caused the debt of the U.S. and other countries to soar. Between strong inflation and the massive debt burden, the founder of the world's largest hedge fund is sounding the alarm. Bridgewater Associates Founder Ray Dalio has grown

  • The stock market is a ‘drunken psycho.’ Why this hedge-fund manager is shorting some of the market’s biggest stocks.

    Our call of the day from the president of Seabreeze Partners Management's Doug Kass, says beware of this market that has the quants at the wheel.

  • Barclays Says Buy These 2 High-Yield Dividend Stocks — Including One With 9.5% Yield

    Stocks have started 2023 with a 7% gain on the S&P 500, and 13.5% gain on the NASDAQ. It’s a solid performance to start the year, but will it last? According to Emmanuel Cau, the head of European equity strategy at Barclays, we might not be fully out of the woods yet. "Despite a still sticky labor market, softening US data (ISM down further below 50, weaker housing data) seem to matter for central banks' reaction function, which now appears more balanced between fighting inflation and preserving

  • PayPal Q4 Preview: Can Shares Remain Strong?

    PayPal shares have started 2023 off on the right foot, up more than 10% year-to-date. Can a strong earnings release provide more fuel?

  • Dow snaps 3-day losing streak after Fed chief Powell says the peak policy interest rate may be higher

    U.S. stocks ended higher on Tuesday after a volatile session in the wake of Federal Reserve Chair Jerome Powell's comments that inflation will decline significantly in 2023 but more interest-rate hikes will be necessary.

  • President Biden calls out stock buybacks in State of the Union address

    The Biden administration eyes the profit boost that is the stock buyback.

  • 3M raises dividend to $1.50 a share

    MARKET PULSE 3M Co. (MMM) said late Tuesday its board has declared a dividend of $1.50 a share for the first quarter, up from $1.49 a share. The dividend is payable on March 12 to shareholders of record on Feb.

  • Analysis-Rebounding yields could scuttle U.S. stock rally as Powell stays firm on rates

    The fate of an early year rally in stocks may depend on whether equities can withstand a recent rise in U.S. Treasury yields, as investors increasingly come around to the Federal Reserve’s higher-for-longer mantra on interest rates. Comments from Fed Chairman Jerome Powell on Tuesday did little to dissuade markets from the notion that the central bank will raise rates higher than investors had previously priced in and keep them elevated for longer, as he said rates may need to move higher than expected if economic strength threatens the Fed's progress in lowering inflation.

  • Here's What We Like About Exxon Mobil's (NYSE:XOM) Upcoming Dividend

    Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Exxon Mobil...

  • Buying Nvidia Stock on the Dips: Here's the Level to Watch

    Nvidia stock has been trading incredibly well on the long side. Here's where to buy the dip next.

  • Disney: How investors are prioritizing its units ahead of earnings results

    Yahoo Finance entertainment reporter Allie Canal breaks down Wall Street's expectations for Disney's business units ahead of tomorrow's earnings call.

  • 3 Nasdaq 100 Stocks to Buy Hand Over Fist in February

    After growth stocks were Wall Street's savior in 2021, they were primarily responsible for dragging the major indexes into a bear market last year. The growth-dependent Nasdaq Composite and Nasdaq 100 -- an index comprised of the 100 largest nonfinancial companies listed on the Nasdaq exchange -- each plunged 33% in 2022. Thankfully, when there's pain on Wall Street, you can always find opportunity.