United Internet stock: Berenberg keeps Buy rating, 35-euro target

United Internet stock traded at 25.07 euros on Lang & Schwarz at 17:49 CET on Wednesday, November 4, 0.36 percent above the Xetra close of Wednesday, November 4. The move followed a fresh analyst assessment: Berenberg retained its Buy rating and a 35-euro price target, according to finanzen.ch.

What changed for investors

The underlying Berenberg analysis was published on November 3. Analyst Gustav Froberg argued that United Internet had not received the appreciation he considered warranted during 2026. Berenberg therefore sees an attractive entry point.

The broker's view centers on valuation rather than a new company forecast. It sees possible upside from a more favorable market view of the IONOS stake and believes investors may be assigning too high a cost to the acquisition of the remaining 1&1 shares. That makes capital allocation the key issue in the current investment case.

United Internet announced on October 5 that it would participate in a capital increase at 1&1. The company said it would contribute a loan receivable without an additional cash outflow and increase its holding in the subsidiary to approximately 89.32 percent. The transaction is intended to strengthen 1&1's capital structure and simplify internal financing.

Next operating test

United Internet has scheduled its third-quarter report for November 12, according to its investor relations page. The release should give investors a new basis for assessing telecom momentum, investment requirements and the financial effects of the group's holdings.

Compared with the 24.17-euro Lang & Schwarz quote in the latest relevant own report from November 3 at 18:49 CET, the current quote is up 3.72 percent. This change since that report is separate from the 0.36-percent premium to the November 4 Xetra close.

Investors can follow the real-time quote of United Internet stock.

The wider German market provides the relevant backdrop for the shares through the DAX.

More news and analysis are available in further reports and analysis on United Internet stock.