Oppenheimer analyst Timothy Horan raised his price target for AT&T to $46 from $40 after the company reported a "solid" quarter. The analyst remains positive on the company given its "strong" strategic positioning, cost savings and an attractive 4.5% dividend yield. Further, he says AT&T is still his best Dividend Play and reiterates an Outperform rating on the shares.

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FY25 EPS consensus $2.16.

Reports Q1 revenue $30B, consensus $28.65B. Reports Q1 349,000 postpaid phone net adds. "Our results this quarter reflect continued strong growth in our Mobility and Consumer Wireline connectivity businesses, which represent about 80% of our total revenues," said John Stankey, AT&T CEO. "Customers are choosing AT&T and staying with us. We achieved a record-low first-quarter postpaid phone churn, grew consumer broadband subscribers for the third consecutive quarter, and expanded margins in Mobility and Consumer Wireline. We're also delivering on our commitment to grow and improve the quality and cadence of free cash flow, which increased by more than $2 billion year over year. This consistent, solid performance driven by our investment-led strategy gives us confidence to re-affirm our full-year consolidated financial guidance."