On July 24, AT&T Inc rose 3.01% in regular trading, trading at $23.66/share, with turnover of $316 million. The stock continued its post-earnings momentum as multiple institutions upgraded their outlook following strong Q2 results released on July 22.

AT&T's Q2 adjusted EPS came in at $0.65, up 20.37% year-over-year and significantly beating the consensus estimate of $0.59. Wireless postpaid phone net additions reached 432,000, far exceeding the expected 330,000, driven by bundling strategies including the OneConnect package. Consolidated revenue grew 2.3% to $31.6 billion, while adjusted EBITDA rose 5.2% to $12.3 billion.

Following the report, Wolfe Research upgraded AT&T to Outperform, citing fundamental improvements outweighing Starlink competition risks. RBC Capital Markets highlighted the company's cost-efficient subscriber growth and expects legacy network wind-down to drive free cash flow expansion through 2028. AT&T also raised its share repurchase target to $10 billion from $8 billion, while its CEO dismissed SpaceX as a late entrant facing steep infrastructure catch-up.

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