Deutsche Bank keeps Buy rating for United Internet stock

United Internet (ISIN DE0005089031) was trading at EUR 24.00 at Lang & Schwarz on October 8, 2026 at 2:11 p.m. CEST, versus the Xetra close of EUR 24.04 on October 7, 2026, a calculated minus 0.17 percent. Deutsche Bank Research maintained its Buy rating on October 6, 2026, as the analyst assessed United Internet's planned participation in a 1&1 capital increase.

Three events changed the picture

On September 10, 2026, United Internet confirmed guidance of EUR 6.45 billion in revenue and EUR 1.45 billion in EBITDA for fiscal year 2026 after transformation programs at 1&1 and IONOS, as FinanzNachrichten.de reported. On September 24, 2026, United Internet named André Driesen as its new chief financial officer from November 1, 2026, according to EQS Group. On October 6, 2026, Deutsche Bank Research kept Buy and highlighted the planned transfer of a loan claim for about 35 million new 1&1 shares, according to finanzen.ch.

What does the rating mean for valuation?

The operating backdrop combines higher earnings per share with lower revenue. United Internet reported EUR 0.38 of earnings per share in the second quarter of 2026, up from EUR 0.29 in the second quarter of 2025, while revenue fell 4.18 percent year over year to EUR 1.54 billion, according to finanzen.net. The same source cites an average analyst target of EUR 32.25, which is 34.38 percent above the EUR 24.00 Lang & Schwarz price. That spread makes earnings delivery and the treatment of the 1&1 stake more important than the rating label alone.

Two dates shape the next phase

André Driesen is scheduled to become chief financial officer on November 1, 2026, according to EQS Group. United Internet is expected to present third-quarter 2026 figures on November 12, 2026, according to finanzen.net.

Stock remains below its yearly high

United Internet's Lang & Schwarz price of EUR 24.00 stood between the 52-week range of EUR 22.24 to EUR 30.22 on October 8, 2026. Its market capitalization was EUR 4.1 billion, while the MDAX and TecDAX listings place the company among Germany's tracked technology and mid-cap stocks. The next results date offers a concrete test of the EUR 6.45 billion revenue outlook and the EUR 1.45 billion EBITDA outlook for fiscal year 2026.

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Market context: Market report DAX.

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