AT&T Inc (NYSE:T) reported an earnings beat for the first quarter, while its revenues remained flat.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

Scotiabank On AT&T

Analyst Maher Yaghi reiterated a Sector Outperform rating while raising the price target from $22 to $22.50.

AT&T’s wireless performance is “off to a strong start,” with 350K phone net additions during the quarter, “despite continued industry normalization in the U.S. wireless market,” Yaghi said in a note.

“While pressures in the Business segment remain, growth in Consumer and Wireless are providing enough torque to produce significant FCFs to reduce leverage,” the analyst stated. He added that the company recorded $3.1 billion in free cash flows during the quarter, materially higher than the Street expectation of $2.4 billion. …

Full story available on Benzinga.com