Goldman Sachs Maintains a Buy on AT&T Inc. (T)

AT&T Inc. (NYSE:T) is one of the Most Undervalued S&P 500 Stocks to Buy Right Now. On August 26, Goldman Sachs analyst James Schneider maintained a Buy rating on AT&T Inc. (NYSE:T) with an associated price target of $32.

The rating comes after the company, on the same day, announced acquiring certain wireless spectrum licenses from EchoStar for approximately $23 billion. The analyst noted this acquisition to be a smart move, which will help the company grow in core mobile and fixed wireless areas. He noted that even though the license came at a high price, it strengthens the company’s position in the mobile market.

Schneider also highlighted AT&T Inc.’s (NYSE:T) focus on capital returns through share buybacks. In addition, he pointed out the importance of wireless net additions and fiber subscriber growth. He believes that these efforts are expected to boost investor confidence.

AT&T Inc. (NYSE:T) is a global telecommunications and technology company. It offers wireless and wireline services, including broadband, voice, and fiber connections.

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Disclosure: None. This article is originally published at Insider Monkey.