NEW YORK, March 24, 2026, 3:40 PM EDT
AT&T gained roughly 0.8% Tuesday, hitting $29.42 during the session—within striking distance of its 52-week high—after Citigroup bumped its price target up to $31.50 from $29 while maintaining its Buy call. By the afternoon, shares had eased back to $29.00.
This shift lands just as AT&T approaches its first-quarter results on April 22, with shares trading close to their 52-week peak. Investors—typically drawn to AT&T for its dividend profile—seem to be taking the company’s recent price adjustments and more reliable fiber segment seriously.
AT&T introduced its updated lineup on March 13, trimming the selection to just three plans and adding a more affordable Value 2.0 tier. “Simple plans, features that matter, and real value”—that’s what customers are asking for, according to Jenifer Robertson, who leads the company’s mass markets group. Citi analyst Michael Rollins described the pricing shift as “positive,” noting it could boost sentiment ahead of the next earnings report, and reaffirmed AT&T as Citi’s “top carrier pick.” AT&T Newsroom
Gains managed to grab attention during a turbulent session. Oil and Treasury yields both moved higher amid fresh concerns over the Middle East, leaving Wall Street’s performance split. Even so, Verizon picked up close to 1%, while T-Mobile gained about 1.7%—suggesting appetite for major U.S. wireless stocks remained.
Back in January, AT&T set a bullish tone for investors, projecting 2026 adjusted earnings in the $2.25 to $2.35 per share range—topping where Wall Street had pegged it then. The telecom giant reported 421,000 net new monthly bill-paying phone users and picked up 283,000 fiber internet subscribers in the fourth quarter. Chief Executive John Stankey said the company still expects to hit over 40 million fiber locations by the end of this year.
The stock story really hinges on that fiber buildout. Earlier this month, Reuters said AT&T is putting $250 billion into U.S. connectivity over the next five years, ramping up its battle against cable names like Comcast for broadband customers. The company says 42% of homes with its fiber also sign up for wireless—cross-selling that’s become a key lever.
Even so, the tweaks might end up driving up volume without delivering much on the revenue side. Dave Barden at New Street Research doesn’t see this as “the start of a new price war,” but flagged a risk: some customers on AT&T’s priciest option could downgrade to the middle tier. AT&T’s business landline and data division, meanwhile, keeps losing ground as legacy products wind down. Light Reading
April 22 is shaping up as the next crucial checkpoint. Should AT&T’s pricing tweaks and fiber push deliver stronger subscriber numbers and better cash flow, the company could set its sights on that $29.79 52-week high. If those gains don’t materialize, though, Tuesday’s action might just end up as an analyst-fueled pop, not a real shift in mood.
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