AT&T (NYSE: T) Outlook: Analyst Price Target, Strong Earnings, and Subscriber Growth

• An analyst price target suggests a significant potential upside for AT&T (NYSE: T) stock, indicating a positive long-term outlook.
• The company reported strong second-quarter earnings, with adjusted EPS exceeding expectations and robust subscriber additions across wireless and fiber segments.
• Increased share buybacks underscore investor confidence in AT&T's financial health and strategic direction, despite competitive market pressures.

AT&T (NYSE: T) is a major American telecommunications company that provides wireless mobile services and fiber internet connections. It operates in a competitive market, facing rivals such as Verizon Communications Inc. (NYSE: VZ) and T-Mobile US, Inc. (NASDAQ: TMUS). The company's financial health and subscriber numbers are closely watched by investors to gauge its position within the industry.

On July 22, 2026, an analyst from Goldman Sachs lowered their price target for AT&T to $30. At the time, the stock was trading at $23.04 per share. This new price target represents a potential upside of approximately 30.21% from the price when the target was posted, indicating a positive long-term outlook for the telecommunications stock.

This analyst view follows a strong second-quarter earnings report from AT&T. The company announced an adjusted earnings per share (EPS) of $0.65, which is 10.71% higher than the expected $0.59. EPS is a company's profit divided by its stock shares, showing how much money it makes for each share.

The company's performance is supported by strong subscriber growth, adding 432,000 postpaid phone subscribers and 367,000 fiber subscribers. While revenue of $31.56 billion was slightly below estimates, it still marks a 2.3% year-over-year increase. This growth comes even with potential new competition from SpaceX's Starlink, as highlighted by The Motley Fool.

Investor confidence is also reflected in the company's decision to speed up its share buybacks to about $10 billion for the year. For comparison, as highlighted by 24/7 Wall St., another price target of $27.91 was set for AT&T, suggesting a potential upside of 21.81% and carrying a "buy" recommendation.