AT&T stock gets a USD 30 target after BNP upgrade
Published on 09/25/2026 at 13:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
AT&T Inc. (ISIN US00206R1023) was trading at USD 25.46 on the NYSE on September 24, 2026, up 0.65 percent from USD 25.30. On September 21, BNP Paribas Exane upgraded the stock from Neutral to Outperform and lifted its price target from USD 26 to USD 30, giving the telecom group a fresh wireless growth test.
Wireless growth raises the target
As Investing.com reported on September 21, 2026, BNP Paribas Exane raised its forecast for postpaid phone average revenue per user growth to a 1.1 percent compound annual growth rate from 0.2 percent. The firm said the revised wireless outlook could add several billion dollars to annual revenue, EBITDA and free cash flow over time.
At USD 25.46, the USD 30 price target lies 17.8 percent above the reference price. That gap reflects the difference between a stock supported by recurring connectivity revenue and a valuation still exposed to competition in wireless services.
Second-quarter figures sharpen the debate
Stock Titan reports that AT&T generated USD 31.6 billion in operating revenue in the second quarter of 2026, up 2.3 percent year over year. Diluted GAAP EPS from continuing operations rose to USD 0.66 from USD 0.62, while adjusted EPS increased to USD 0.65 from USD 0.54.
The same second-quarter filing shows adjusted EBITDA of USD 12.3 billion and cash from operations of USD 10.8 billion. The figures matter because adjusted EPS grew faster than revenue, while operating cash flow gives the company room to fund network investment and shareholder returns.
Capital returns remain measurable
In a September 8, 2026 update, AT&T reiterated plans to return USD 45 billion+ through dividends and repurchases from 2026 through 2028, including approximately USD 10 billion of buybacks in 2026. The company also maintained a 2026 adjusted EPS guidance range of USD 2.25-2.35 and free cash flow guidance of at least USD 18 billion.
For investors, the central calculation is clear: BNP Paribas Exane's USD 30 target is tied to faster wireless monetization, while AT&T's second-quarter results show the current earnings base and cash-generation capacity behind that view.
AT&T stock trades below the target
AT&T stock was trading at USD 25.46 on the NYSE on September 24, 2026, with a session range of USD 25.36 to USD 25.80 and a 52-week range of USD 19.89 to USD 29.44. Volume was 33,811,818 shares and market capitalization was USD 174,461,849,400.
AT&T stock facts
- Company: AT&T Inc.
- ISIN: US00206R1023
- Ticker: T
- Trading venue: NYSE
- Price (as of September 24, 2026): USD 25.46
- Market capitalization: USD 174,461,849,400 (as of September 24, 2026)
- 52-week range: USD 19.89-29.44 (as of September 24, 2026)
- Sector / Industry: Communication Services / Telecom Services
