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# AT&T Q4 Preview: Staying On The Sidelines Until We Get Closer To Growth (Archive)
- URL: https://www.huntingalphas.com/at-t-q4-preview-staying-on-the-sidelines-until-we-get-closer-to-growth-archive/
- Published: 2024-01-24T05:42:00.000Z
- Updated: 2026-02-27T08:14:46.000Z
- Description: Waiting for BEAD-driven broadband growth catalysts before upgrading AT&T beyond neutral.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, T, Communication Services

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- AT&T has a few growth engines such as Fiber and Mexico operations, but they are too small to impact the overall growth profile of the company.
- Fiber-related growth has mostly come from pricing improvements and increased fiber-penetration of broadband rollouts. However, volume growth is needed for a longer growth runway and here, broadband connections are decreasing.
- Margin improvement of $2 billion over the next 3 years is expected, but given the EBIT margin surprise record, there is potential of falling under the guide.
- The US Broadband Equity Access and Deployment Program (BEAD) is the key growth catalyst; this is so far not expected to kick in until 2025, making mid-late 2024 a better time for entry into AT&T.
- AT&T trades at a 36% discount to peers; it may be a good value buy right now. But for investors who prefer to accompany value with growth catalysts, I believe the stock is a 'neutral/hold' for a few more months still.

Read the full article [here](https://seekingalpha.com/article/4664555-att-stock-q4-preview-staying-on-sidelines-until-get-closer-growth-catalysts?ref=huntingalphas.com).

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**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*