AT&T’s (NYSE:T) Outage Was a Network Glitch, Not a Cyberattack

AT&T (NYSE:T) provided an update on Thursday’s telecommunication outage that resulted in thousands of users experiencing outages in calls and text messages alike. This outage impacted users across all major telecommunication companies, including AT&T, Verizon (NYSE:VZ), and T-Mobile (NASDAQ:TMUS). The firm stated that Thursday’s service outages were due to an incorrect process used during a network expansion and not a cyber attack.

Regulators, including the Federal Communications Commission (FCC), are “actively investigating” the outages and are in touch with the service providers.

Is AT&T a Buy, Sell, or Hold?

Analysts remain cautiously optimistic about AT&T stock with a Moderate Buy consensus rating based on eight Buys, six Holds, and one Sell. AT&T stock has declined by more than 5% over the past year, and the average AT&T price target of $20.32 implies an upside potential of 21.6% at current levels.