Deutsche Telekom Lifts Guidance a Third Time as Q3 Profit Climbs 12.7% and Munich AI Site Sells Out
Published on 11/12/2026 at 03:01 | Editorial boerse-global.de
Deutsche Telekom's third-quarter report card, released on 5 November, showed an adjusted net profit of EUR 3.0 billion for the 2026 period — a 12.7% year-on-year increase — alongside group revenue of EUR 31.1 billion.
Adjusted EBITDA after lease costs came in at EUR 12.2 billion, representing organic growth of 8.0%. That performance underpinned the group's decision, taken roughly a week before the results, to raise its full-year 2026 guidance for the third time this year: management now targets around EUR 47.6 billion in adjusted EBITDA AL and roughly EUR 20.1 billion in free cash flow AL.
Payout Plans and a Buyback for 2027
Shareholders were offered a dividend of EUR 1.10 per share for the 2026 financial year, with the board also flagging a share buyback of up to EUR 2 billion for 2027. The two measures together form the core of the capital-return package announced alongside the quarterly figures.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
On the infrastructure side, the company said on Monday that it would expand its Industrial AI Cloud in Munich's Tucherpark to 20 megawatts, committing just under a further quarter of a billion euros to the project. The first construction phase is already fully booked, according to the group.
Brokers Rework Their Targets
Analyst reaction has been mixed. Barclays lifted its price target for the stock from EUR 32 to EUR 33 on the day of the results, keeping an "Overweight" rating. The British bank's stance is tempered by competitive pressure on T-Mobile US from satellite communications providers, which it says continues to weigh on investor sentiment despite the strong quarterly numbers.
Goldman Sachs moved the other way about a week earlier, on Friday, cutting its target from EUR 38 to EUR 36 while maintaining a "Buy" rating. DZ Bank also revised its assessment following the nine-month report and the slightly upgraded outlook, lowering its fair value from EUR 35 to EUR 33 on 5 November but leaving its "Kaufen" (Buy) rating intact.
The shares were up 0.3% at EUR 26.10 in the session following the Barclays note.
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Deutsche Telekom Stock: New Analysis - 12 November
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