Citi has increased the company’s profits price target on AT&T from $24 to $26 and maintains a buy rating on the shares ahead of the investor day on December 3. The company expects an update on AT&T’s multi-year strategy, financial outlook and capital allocation priorities, and continues to view the event as a potentially positive catalyst for the stock. AT&T will likely focus on its growing advantage to offer converged facilities-based mobile and fiber services, including a potential acceleration of annual new fiber passes, the analyst tells investors in a research note.
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