According to Zhituo Finance APP, analysts at Royal Bank of Canada (RBC) Capital Markets upgraded the investment rating of AT&T (T.US) over the weekend and downgraded the rating of T-Mobile US (TMUS.US).

RBC is confident in AT&T's growth plans, stating that AT&T will benefit from user growth brought by future fiber investments. They also believe that additional disclosures regarding the retirement of Copper lines are Bullish Signals.

The firm noted in a report on January 5: "We expect that by 2027, the $6 billion in Copper-related costs will be reduced by nearly half and will continue to increase in the coming years."

RBC raised AT&T's rating from 'Sector Perform' to 'Outperform the Large Cap', raising the Target Price by $4 to $26, representing a 14.7% upside potential.

Regarding T-Mobile US, the firm stated that the company seems to have relatively strong execution, but based on current valuations, the risk-reward ratio is not very favorable. They also pointed out that the company's fundamentals remain intact.

Royal Bank of Canada stated: "Part of the reason for the company's growth slowdown in 2025 is the decline in wholesale revenues, and we will closely monitor signs of growth recovery."

Royal Bank of Canada has downgraded T-Mobile US from "Outperform" to "Sector Perform," lowering the Target Price by $15 to $240, indicating a potential upside of 9.5%.