Deutsche Telekom's Network Streak and Digital Euro Mandate Sit Beside a Trimmed Goldman Target
Published on 11/08/2026 at 19:22 | Editorial boerse-global.de
Goldman Sachs cut its price target on Deutsche Telekom to EUR 36 from EUR 38 on Friday, keeping its buy recommendation intact. Analyst Andrew Lee recalibrated his estimates to reflect the quarterly report, the guidance from T-Mobile US and recent currency moves. The revision touched the target only, not the rating. Deutsche Telekom shares closed Friday at EUR 25.98, below the reduced target.
The trim landed alongside a run of operational news. In the Computer BILD mobile network test, the Bonn-based group took first place for the 15th time in a row, earning an overall grade of "sehr gut (1,2)." According to the company, it led the field on both 5G speed and 5G coverage.
Digital Euro and AI Infrastructure Mandates
On the infrastructure side, the European Central Bank said on 30 October that it had picked Nexi Payments and Deutsche Telekom Business Solutions as joint network service providers. The top-ranked provider's contract covers the pilot phase and took effect on 28 September. The selection relates to network services for that pilot stage.
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T-Systems, meanwhile, is teaming up with Sparxity on energy-efficient AI computing infrastructure. The two signed a letter of intent on Tuesday at the Digital Summit, envisaging the integration of Sparxity technology into T-Systems data centers. The next chip generation is slated to enter Telekom data centers in 2028.
Raised 2026 Guidance and a Bigger Payout
Those announcements rest on quarterly figures published Thursday. For the third quarter of 2026, Deutsche Telekom posted revenue of EUR 31.1 billion, an organic gain of 5.5%. Adjusted EBITDA AL rose 8.0% organically to EUR 12.2 billion, and adjusted net profit came in at EUR 3.0 billion.
The group lifted its full-year 2026 outlook, now expecting adjusted EBITDA AL of around EUR 47.6 billion and free cash flow AL of roughly EUR 20.1 billion. Management plans a dividend of EUR 1.10 per share for 2026 and has flagged share buybacks of up to EUR 2 billion for 2027. Fourth-quarter and full-year 2026 results are due on 25 February 2027.
T-Mobile US Merger Process on Hold
Not everything is moving forward. Handelsblatt reported on 29 October that the process for a possible merger with T-Mobile US had been suspended for the time being, with Deutsche Telekom holding off on a formal offer. The report cited works council resistance as one reason; neither Deutsche Telekom nor T-Mobile US commented. dpa-AFX also pointed to worries over pressure on T-Mobile US from SpaceX and the potential merger with the US subsidiary as factors weighing on the stock.
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