Deutsche Bank cuts target for Cellnex stock from EUR 42.50 to EUR 40.00

Published on 10/19/2026 at 10:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cellnex stock costs EUR 25.77 on October 19, 2026 within its EUR 21.84 to EUR 32.71 range. Results are due November 5, 2026.

Target revision and cash generation

Deutsche Bank lowered its Cellnex target from EUR 42.50 to EUR 40.00 on October 2, 2026.
First-half 2026 revenue reached EUR 1,994 million and free cash flow reached EUR 301 million.
Cellnex stock trades at EUR 25.77 at 10:34 a.m. CEST at Lang & Schwarz on October 19, 2026.

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 Telecom (ES0105066007) was trading at EUR 25.77 at Lang & Schwarz on October 19, 2026, at 10:34 a.m. CEST. Bolsamania reported on October 2, 2026, that Deutsche Bank lowered its Cellnex target from EUR 42.50 to EUR 40.00 while keeping its Buy recommendation.

Target stays above the share price

The revised EUR 40.00 target remains above the Lang & Schwarz price by EUR 14.23. That gap keeps valuation and cash generation central to the stock story, while contract renewals and leverage remain material considerations in third-party analysis.

Capital.com reported on September 28, 2026, that Goldman Sachs had cut its target from EUR 31.00 to EUR 26.00, while Barclays had raised its target from EUR 32.00 to EUR 38.00. The range shows why the EUR 40.00 Deutsche Bank view is an important but contested valuation marker.

What does the cash flow mean?

Cellnex reported consolidated revenue of EUR 1,994 million for the first half of 2026, up 5.00 percent organically year over year, according to the company's July 30, 2026 release. Adjusted EBITDA rose 6.40 percent and EBITDA after leases increased 7.70 percent. Free cash flow reached EUR 301 million, compared with EUR 19 million in the first half of 2025, according to Cellnex.

Three events frame the valuation

On November 6, 2025, Cellnex announced a EUR 500 million buyback program, later described in its first-half release. On July 30, 2026, it reported EUR 1,994 million in first-half revenue and announced an additional EUR 200 million buyback. On October 2, 2026, Deutsche Bank cut its target from EUR 42.50 to EUR 40.00, as reported by Bolsamania.

Dates for the next update

Capital.com listed November 5, 2026, for Cellnex's third-quarter results. The buyback program is scheduled to run until December 31, 2026, or until its EUR 200 million maximum is reached, according to Cellnex.

Cellnex stock holds above EUR 25

Cellnex stock was trading at EUR 25.77 at Lang & Schwarz on October 19, 2026, at 10:34 a.m. CEST. The company had a market capitalization of EUR 16.9 billion on October 19, 2026, and its 52-week range was EUR 21.84 to EUR 32.71.

The further course of trading is shown by the continuously updated real-time quote of Cellnex stock.