01:24 PM EDT, 07/25/2024 (MT Newswires) -- AT&T ( T ) Q2 results were backed by strong wireless postpaid subscriber growth, average revenue per user and lower churn, Oppenheimer said in a note sent Thursday.

The firm said it expects AT&T's ( T ) revenue growth to accelerate in H2 as increases in legacy prices will become effective in August, while the company's free cash flow is on track for full-year $17 billion to $18 billion guidance.

The company saw "minimal impact" from the Affordable Connectivity Program to its broadband and prepaid mobile in Q2 and is past majority of the effect, according to the note.

Oppenheimer said that fiber net adds slowed in Q2 due to pressure from "seasonal weakness and low move activity" while non-fiber losses are slowing down naturally with benefits from fixed wire access additions.

The firm raised the price target on AT&T's ( T ) shares to $23 with an outperform rating.

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