Goldman Sachs Forecasts AT&T (T) Buyback Ramp-Up Fueled by 8% Free Cash Flow Growth

AT&T Inc. (NYSE:T) is one of the best high volume stocks to buy right now. On December 19, Goldman Sachs lowered the firm’s price target on AT&T to $29 from $33 while maintaining a Buy rating on the shares. The firm expects AT&T to ramp up share repurchases as its free cash flow grows at an 8% CAGR through 2029 from strong Mobility results and an expanding fiber network that benefits from the Lumen acquisition. By prioritizing convergence and industry-leading investment, AT&T is building a network capable of handling future AI demands while delivering improved returns to shareholders.

On December 15, Wolfe Research analyst Peter Supino downgraded AT&T to Peer Perform from Outperform without setting a price target on the shares. This sentiment was posted as the firm downgraded the overall telecom and cable sector to Market Weight due to a lack of recovery from the declining KPIs observed in late 2025.

Additionally, earlier on December 10, Morgan Stanley also cut the price target on AT&T to $30 from $32 while keeping an Overweight rating on the shares. In a 2026 outlook for the telecom sector, Morgan Stanley maintained a positive view on the consolidated US wireless market, driven by a healthy growth environment that favors AT&T. The company’s ongoing fiber expansion was also highlighted as a significant competitive advantage.

AT&T Inc. (NYSE:T) provides telecommunications and technology services worldwide. The company operates through two segments: Communications and Latin America.

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