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

Scotiabank raised the firm’s price target on AT&T to $26 from $24 and keeps an Outperform rating on the shares. The company printed results which continue to support its rating, the analyst tells investors. While AT&T will be facing a material increase in cash taxes in 2025 and is still spending a significant amount on fiber and wireless networks, organic growth is large enough to offset those headwinds and provide a path to grow free-cash-flow/share in 2025, the firm adds.