HSBC raises target for Magyar Telekom stock to HUF 3,140

Magyar Telekom (ISIN HU0000073507) was trading at EUR 6.94 at Lang & Schwarz on October 7, 2026 at 2:01 p.m. CEST, down 1.42 percent versus the prior close of EUR 7.04. The key valuation signal is HSBC's target increase from HUF 2,250 to HUF 3,140, reported on September 22, 2026 by Világgazdaság.

HSBC target resets valuation

HSBC lifted its 12-month target by 39.56 percent from HUF 2,250 to HUF 3,140 and changed its recommendation from hold to buy, according to Világgazdaság on September 22, 2026. The article also cited a HUF 2,923 median target and four buy ratings among seven brokerages, giving the upgrade a broader valuation context.

The target change matters because the share had already gained more than 40 percent during 2026 before the report. HSBC's new target was above the HUF 2,790 historical high cited by Világgazdaság, which makes execution and cash generation central to the valuation case rather than the target revision alone.

Second-quarter figures temper the case

Magyar Telekom reported second-quarter 2026 revenue of HUF 243.3 billion, up 0.80 percent from the prior-year quarter, while EBITDA fell 0.80 percent to HUF 108.4 billion. Adjusted net income attributable to shareholders declined 1.50 percent to HUF 55.0 billion, according to Világgazdaság.

Management kept its 2026 financial objectives, including low-single-digit revenue growth, mid-single-digit growth in EBITDA after leases and adjusted net income 10 percent above the 2025 level. The company also expects free cash flow of at least HUF 200 billion, a figure that puts balance-sheet cash generation alongside the more optimistic HSBC valuation.

Stock trades below prior close

The Lang & Schwarz quote stood at EUR 6.94 on October 7, 2026 at 2:01 p.m. CEST, compared with a prior close of EUR 7.04, for a daily change of minus 1.42 percent. The Budapest Stock Exchange listing is identified as MTELEKOM.BD, with the primary quotation in HUF.

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

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