Wolfe Research has downgraded AT&T Inc (T) to a rating of Peer Perform from Outperform, effective December 14, 2025. This decision underscores a shift in sentiment regarding the telecommunications giant's outlook.
As of the downgrade, AT&T shares were trading at $24.31. The revised rating may reflect growing caution about competitive pressures, market conditions, or execution risks that could affect the company’s performance moving forward.
AT&T, headquartered in Dallas, Texas, is a major player in the telecommunications industry, providing services globally through its Communications and Latin America segments. With a market capitalization of $173.6 billion, the company reported a trailing twelve months (TTM) price-to-earnings (P/E) ratio of 7.80 and earnings per share (EPS) of 3.09. The firm also boasts a substantial dividend yield of 455.1%.
The upcoming earnings reports for AT&T are scheduled for July 21, 2026, with an estimated EPS of $0.59 and revenue of $31.8 billion, and April 21, 2026, with an estimated EPS of $0.54 and revenue of $31.7 billion.
Analyst ratings and price targets serve as professional insights based on extensive research. However, they are based on assumptions that may not materialize as expected. Investment decisions should incorporate a range of factors, including company fundamentals, competitive positioning, and individual financial goals.
This downgrade follows a series of recent analyst actions, including a maintenance rating from Morgan Stanley and an upgrade from Keybanc to Overweight. As of December 1, 2025, the analyst consensus remains a Buy, with 10 Strong Buy, 13 Buy, 10 Hold, and 1 Sell ratings among 34 analysts.
Such decisions reflect the dynamic nature of market conditions and the importance of continuous evaluation in the investment landscape.