7/105 sources · 4 publishersUpdated Oct 13, 14:41 UTC
Bernstein cuts AT&T rating to Market Perform and lowers price target to $24 amid SpaceX competition
Bernstein analyst Laurent Yoon downgraded AT&T to Market Perform, reducing the price target from $25 to $24. The downgrade cites growing competitive pressure from SpaceX’s Starlink broadband and wireless services. AT&T shares were trading around $22.49 and have fallen more than 9% in 2026. The firm also trimmed price targets for other telecom peers.
Why it matters
The downgrade and lower price target may prompt investors to reassess AT&T’s valuation, potentially leading to further share price pressure. Bernstein’s note highlights competitive risk from SpaceX, which could affect AT&T’s future earnings outlook.
Key facts
- 1Bernstein downgraded AT&T to Market Perform from Outperform. investing.com
- 2The price target was cut to $24 from $25. investing.com
- 3Analyst Laurent Yoon authored the downgrade. investing.com
- 4AT&T shares were trading at $22.49 at the time of the note. investing.com
- 5AT&T shares have fallen more than 9% in 2026. cnbc.com
- 6Bernstein also reduced price targets for Verizon, T‑Mobile and Comcast to Market Perform. investing.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.