Oppenheimer analyst Timothy Horan raised the firm’s price target on AT&T to $24 from $23 and keeps an Outperform rating on the shares. The firm notes the company delivered a solid quarter underscored by strong operating leverage and deleveraging. As expected, given the Analyst Day on December 3rd, management did not delve deep into its long-term targets. AT&T appears on track to hit its 2024 guidance, benefiting from oligopolistic competition and major network investments, Oppenheimer adds.
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