Scotiabank Lifts AT&T (T) Price Target after Positive Industry Signals

AT&T Inc. (NYSE:T) is included among the 14 Best American Dividend Stocks to Invest in.

On March 9, Scotiabank raised its price recommendation on AT&T Inc. (NYSE:T) to $31 from $29.50. The firm reiterated a Sector Perform rating on the shares. After hosting its annual TMT conference, the firm said AT&T offered some encouraging signals about the condition of the U.S. telecom industry. The analyst noted that the company’s comments pointed to stable demand trends across the sector.

During the earnings call, AT&T said it expects total wireless service revenue to grow between 2% and 3% annually over the next three years. The company also expects organic revenue from its advanced home internet services to rise by more than 20% a year through 2028. Once the acquisition of Lumen Technologies is completed, the reported advanced home internet revenue growth in 2026 is projected to exceed 30%.

Chief Financial Officer Pascal Desroches said the company expects adjusted EPS to come in between $2.25 and $2.35 in 2026. He added that AT&T is targeting a double-digit three-year CAGR through 2028. Desroches also said free cash flow should exceed $18 billion in 2026. The company expects that figure to increase by more than $1B in 2027 and by roughly $2 billion in 2028. AT&T also said it plans to return more than $45 billion to shareholders between 2026 and 2028. That plan includes about $8 billion in share buybacks scheduled for 2026.

AT&T Inc. (NYSE:T) operates as a holding company that provides telecommunications and technology services worldwide. Its operations are organized into two segments: Communications and Latin America.

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