If you're wondering what AT&T Inc. (T) is up to these days, you're about to get a detailed answer. The company's Chief Financial Officer, Pascal Desroches, is scheduled for a fireside chat at the Deutsche Bank Media, Internet & Telecom Conference on March 9. The agenda? A comprehensive update on AT&T's multi-year growth strategy. Think of it as the company's roadmap presentation, where they tell investors where they're driving the bus and how fast they plan to get there.
The discussion is expected to zero in on the twin engines of AT&T's future: advancements in its 5G wireless network and the expansion of its fiber internet footprint. This fiber push got a recent boost from the acquisition of Lumen's Mass Markets fiber business. But it's not just about building networks; it's also about explaining the payoff.
To that end, AT&T is rolling out a new way of reporting its financials. Starting with its first-quarter 2026 results, the company will adopt a new segment reporting strategy. The goal here is transparency. Investors will get a much clearer picture of the financial returns coming from these high-growth, "Advanced Connectivity" investments (like 5G and fiber) versus the money still trickling in from its older, declining "Legacy" segments. It's a move to help the market see the forest for the trees—or in this case, the growth for the decline.
On the guidance front, AT&T isn't changing its tune. The company is reiterating all the full-year 2026 and multi-year financial and operational targets it provided earlier. That includes a reaffirmed adjusted earnings per share (EPS) range of $2.25 to $2.35 for 2026. For context, the analyst consensus estimate is sitting at $2.21, so AT&T's own forecast is a touch more optimistic. Looking further out, the company is targeting a double-digit compound annual growth rate (CAGR) for EPS through 2028.
The profit story follows a similar script. AT&T continues to project adjusted EBITDA growth of 3% to 4% in 2026, with an expectation that this improves to 5% or better by 2028. The math behind that improvement is straightforward: the plan is for gains in the Advanced Connectivity business to more than offset the ongoing declines in the Legacy segments.
And for shareholders wondering about their cut, the company still expects to send more than $45 billion back to them from 2026 through 2028. That return will come through the classic combination of dividends and share buybacks.
So, how is the stock itself behaving? Over the past year, AT&T has posted a modest gain of about 5%. More tellingly, it's currently trading above several key technical moving averages, which generally signals bullish sentiment among traders. Specifically, the stock is 1.1% above its 20-day simple moving average (SMA) and a more notable 11.3% above its 100-day SMA. The Relative Strength Index (RSI) is at 63.74, which sits in neutral territory, suggesting the stock isn't overbought or oversold at the moment. However, the MACD indicator is showing a bearish crossover, hinting that there might be some near-term downward pressure in the mix.
All eyes will be on the company's next official financial update, scheduled for April 22, 2026. As that date approaches, here's what the Street is expecting for the quarter: an EPS of 55 cents (up from 51 cents year-over-year) and revenue of $31.21 billion (up from $30.63 billion YoY). The stock's valuation, with a P/E ratio of 9.4x, is often cited as presenting a value opportunity.
The analyst community largely remains on board. The stock carries a consensus Buy rating with an average price target of $30.07. Recent analyst actions, however, have involved some target price trims: Wells Fargo maintained an Overweight rating but lowered its target to $27.00 on January 26; Bernstein kept its Outperform rating but cut its target to $30.00 on January 16; and Barclays held its Equal-Weight rating while reducing its target to $26.00 on January 13.
When it comes to market positioning, AT&T is a heavyweight in several exchange-traded funds (ETFs). This means its stock price can be influenced by broader flows into or out of these funds, as managers are forced to buy or sell shares to match the ETF's composition. Key ETFs with significant AT&T exposure include the State Street Communication Services Select Sector SPDR ETF (XLC) with a 5.02% weight, The Communication Services Select Sector SPDR Fund (also XLC) with a 4.30% weight, and the 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) with a 5.07% weight.
In early trading action on Monday, AT&T shares were down 0.80% at $28.41 in the premarket session.
