02:51 PM EST, 12/04/2024 (MT Newswires) -- AT&T ( T ) plans to expand its fiber broadband network to 50 million homes by 2029 and accelerate deployment to 4.5 million homes per year from the current 2.5 million to 3 million pace, UBS Securities said in a note Wednesday based on the carrier's recently unveiled multi-year strategic plan.

The company expects free cash flow of over $16 billion by 2025 and over $18 billion by 2027 enabling 40% to 50% dividend payouts and over $20 billion share repurchases by 2027, according to the note.

AT&T ( T ) is on track to provide 5G mid-band coverage to 300 million plus people by the end of 2026 and complete its 5G network modernization with open technology by 2027, the firm added.

The brokerage has a buy rating on the company's stock with a price target of $25.s

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