AT&T price target raised to $26 from $24 at Citi

Citi raised the firm’s price target on AT&T to $26 from $24 and keeps a Buy rating on the shares ahead of the investor day on December 3. The firm expects an update on AT&T’s multi-year strategy, financial prospects, and capital allocation priorities, and continues to view the event as a potentially positive catalyst for the shares. AT&T is likely to focus on its expanding advantage to offer converged facilities-based mobile and fiber services, including possible acceleration of annual new passings with fiber, the analyst tells investors in a research note.