Wall Street just sent a clear signal to income investors who count on AT&T for steady payouts.

Morgan Stanley slashed its price target on the telecom giant, and the reason has little to do with AT&T’s (T) own performance.

The real threat is coming from space. Elon Musk‘s Starlink satellite network is growing fast enough that analysts now believe it will meaningfully dent the broadband and wireless business every major U.S. carrier depends on.

For AT&T shareholders who rely on the stock’s dividend, this is worth close attention.

Starlink has Wall Street on edge

Morgan Stanley (MS) analysts led by Sean Diffley cut AT&T’s price target to $25 from $30 in a July 7 research note shared…