Corning And AT&T Sign $1 Billion+ Deal To Supercharge Fiber Network
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
0mins
Source: Benzinga
Corning and AT&T Partnership: Corning Incorporated has signed a multi-year agreement valued over $1 billion with AT&T to supply advanced fiber and connectivity solutions, enhancing AT&T's fiber network expansion for high-speed internet access across the U.S.
Market Reaction: Following the announcement, Corning's shares (GLW) rose by 2.25% in premarket trading, reflecting positive investor sentiment regarding the partnership and Corning's strategic plans for growth.
Analyst Views on T
Wall Street analysts forecast T stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for T is 28.27 USD with a low forecast of 20.00 USD and a high forecast of 33.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
8 Buy
5 Hold
2 Sell
Moderate Buy
Current: 23.500
Low
20.00
Averages
28.27
High
33.00
Current: 23.500
Low
20.00
Averages
28.27
High
33.00
About T
AT&T Inc. is a holding company. The Company is a provider of telecommunications and technology services globally. The Company’s segments include Communications and Latin America. The Communications segment provides wireless and wireline telecom and broadband services to consumers located in the United States and businesses globally. The business units of the Communication segment include Mobility, Business Wireline, and Consumer Wireline. Mobility provides nationwide wireless service and equipment. Business Wireline provides advanced Ethernet-based fiber services, Internet Protocol (IP) Voice and managed professional services, as well as legacy voice and data services and related equipment, to business customers. Consumer Wireline provides broadband services, including fiber connections. Consumer Wireline provides legacy telephony voice communication services. The Latin America segment provides wireless services and equipment in Mexico.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
