EL7.AI
StocksMediumUpdated×4•Originally published 16 April 2026•Updated 18 April 2026•
1 min read

AT&T and Autodesk Downgraded as Analysts Turn Cautious on Software and Telecom

Key Facts

1Exane BNP Paribas downgraded AT&T (T) from Outperform to Neutral, triggering a 2.39% intraday stock decline.
2Citi downgraded Autodesk (ADSK) to Neutral from Buy, significantly cutting the price target from $331 to $246.
3The Autodesk downgrade reflects a broader move by Citi to underweight software stocks due to a lack of anticipated catalysts.

Despite previous rating pressures, AT&T maintains a 'Moderate Buy' consensus rating with an average price target of $30.74, supported by ambitious fiber targets and strong free cash flow guidance for 2024. However, recent filings show Asset Management One Co. Ltd. reduced its stake in AT&T by 1.9% during the fourth quarter as part of a broader portfolio rebalancing that favored Walt Disney and Royal Caribbean over RTX Corp. Meanwhile, Extra Space Storage faced insider pressure as its CEO sold over $1 million in shares, reducing his direct ownership by 10.14%. These institutional shifts occur as the market weighs AT&T's resilient operational outlook against ongoing volatility in the software sector involving Autodesk. Management remains focused on achieving 3-4% EBITDA growth, providing a fundamental floor despite minor institutional divestments.