RBC Capital has raised its price target for AT&T (T) stock from $28 to $30, maintaining an Outperform rating. This revision follows AT&T's impressive first-quarter results, which exceeded expectations even after excluding $100 million in one-time EBITDA benefits.
The investment firm highlighted that AT&T's management made strategic decisions that favorably influenced its early performance in the year. Notably, the company opted to sacrifice some of its Mobility segment's margins, resulting in a robust start with 324,000 new postpaid subscribers. RBC Capital views these developments as positive indicators for AT&T's growth trajectory.
