AT&T gains as analysts highlight wireless strength

AT&T (T) shares rose about 4% after the company’s second-quarter results, as investors focused on stronger wireless performance, better-than-expected earnings and an increase in the company’s share buyback target.

Analysts largely viewed the quarter positively, highlighting strong postpaid phone growth, wireless service revenue momentum and EBITDA performance, while pointing to broadband monetization as an area to monitor.

J.P. Morgan maintained its Overweight rating on AT&T (T), calling out “much better postpaid phone adds, wireless service revenue, and EBITDA” following the quarter. The firm highlighted postpaid phone net adds of 432,000 and wireless service revenue growth of 3.3% year over year.

While analyst Kutgun Mara at Evercore ISI described the results as a “healthy 2Q26 operating and financial” performance, noting that wireless trends were encouraging and that AT&T (T) raised its 2026 share repurchase target to $10 billion from $8 billion. The higher buyback appeared to be “largely a pull-forward for the time being.” Mara added.

Wells Fargo called the quarter “strong wireless results + buyback,” while flagging “weaker internet ARPU” trends as a potential concern. The firm noted strong fiber and fixed wireless additions but said broadband monetization remains a key area to watch.

Analysts also noted that AT&T (T) reiterated its 2026 outlook, including adjusted EBITDA growth of 3% to 4% and free cash flow of more than $18 billion.