Deutsche Bank cuts Cellnex target: Cellnex stock stands 42.40 percent below target

Published on 10/07/2026 at 10:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cellnex stock costs EUR 23.04 on October 7, 2026, versus EUR 22.79. Revenue hit EUR 1.994 billion in the first half of 2026, up 5.00 percent.

3D-Render eines Rechenzentrums mit Antennenmast auf dem Dach — Architektonisches Render eines Rechenzentrums mit Mast repräsentiert Cellnex Telecom S.A., ISIN ES0105066007, Illustration mit AI erstellt.

Cellnex stock stood at EUR 23.04 at Lang & Schwarz on October 7, 2026 at 10:33 a.m. CEST, up 1.10 percent from the EUR 22.79 prior close. Deutsche Bank cut its Cellnex price target from EUR 42.50 to EUR 40.00 on October 2, 2026, while maintaining its Buy recommendation, according to Bolsamania.

Target cut meets cash flow gains

The new target is EUR 40.00, which places the Lang & Schwarz price 42.40 percent below Deutsche Bank's target. The bank linked the lower valuation to concerns about service framework agreements and the ability of tower companies to preserve long-term revenue growth.

That caution contrasts with Cellnex's latest operating figures. The company reported EUR 1.994 billion of consolidated revenue in the first half of 2026, up 5.00 percent organically from the same period a year earlier, while adjusted EBITDA rose 6.40 percent.

Cash flow outruns revenue growth

Cellnex's cash generation was the sharper change in the first-half report. Free cash flow increased to EUR 301 million from EUR 19 million in the first half of 2025, while recurring leveraged free cash flow rose 11.00 percent.

According to Cellnex on July 30, 2026, EBITDA after leases reached EUR 1.231 billion and the company announced an additional EUR 200 million share buyback for 2026. The figures give investors a measurable counterweight to the contract-renewal concerns highlighted by Deutsche Bank.

Next results date approaches

Cellnex is scheduled to publish its third-quarter 2026 results on November 5, 2026, according to Capital.com. That report will show whether the first-half cash flow improvement is extending into the second half and whether operating growth remains aligned with the company's public targets.

Stock remains below target

Cellnex stock was trading at EUR 23.04 at Lang & Schwarz on October 7, 2026 at 10:33 a.m. CEST, plus 1.10 percent versus the EUR 22.79 prior close. The further course of trading is shown by the continuously updated real-time quote of Cellnex stock.