Barclays cuts Deutsche Telekom target to EUR 32: Deutsche Telekom stock gains 1.02 percent

Published on 10/22/2026 at 11:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

J.P. Morgan kept its EUR 38.00 target on October 21, 2026. Deutsche Telekom stock costs EUR 25.76 on October 22, 2026, 1.02 percent above the Xetra close.

Targets growth and key dates

Barclays cut its Deutsche Telekom target from EUR 35.00 to EUR 32.00 on October 20, 2026.
Organic service revenue grew 3.9 percent in the first half of 2026.
Deutsche Telekom stock trades at EUR 25.76 at 11:16 a.m. CEST at Lang & Schwarz on October 22, 2026, 1.02 percent above the Xetra close of October 21, 2026.
Third-quarter results are scheduled for November 5, 2026.

Techniker spleißt Glasfaserkabel an Fusion-Spleißgerät in Schaltzentrale, schwarz-weiß — Schwarzweiß-Reportagefoto eines Technikers bei der Arbeit an einer Glasfaserspleißmaschine in einer Netzwerkschaltzentrale – dokumentiert die Tiefbauinfrastruktur der Deutsche Telekom AG (ISIN DE0005557508), Illustration mit AI erstellt.

Deutsche Telekom (ISIN DE0005557508) traded at EUR 25.76 at Lang & Schwarz on October 22, 2026 at 11:16 a.m. CEST, 1.02 percent above the Xetra close of October 21, 2026 at EUR 25.50. Barclays had cut its target from EUR 35.00 to EUR 32.00 on October 20, 2026 while retaining its Overweight rating, according to Der Aktionär.

Analysts split on the target

J.P. Morgan took the opposite recent approach. Its analyst Akhil Dattani kept a Buy rating and an EUR 38.00 target on October 21, 2026, as reported by MarketScreener. The two target levels frame a difference of EUR 6.00, while both remain above the Lang & Schwarz price.

The next earnings test is scheduled for November 5, 2026. Estimates published by finanzen.net put third-quarter revenue at EUR 30.58 billion, up 5.67 percent from EUR 28.94 billion in the comparable quarter. The same estimates point to earnings per share of EUR 0.61 versus EUR 0.50 previously.

What does growth mean for valuation?

Deutsche Telekom's operating trend provides the counterweight to the target debate. The company's second-quarter 2026 earnings-call transcript said organic service revenue grew 3.9 percent in the first half of 2026, while organic EBITDA increased 7.4 percent and adjusted earnings per share rose 10.3 percent. These figures were reported in the transcript carried by Yahoo Finance.

Three dated company developments

On August 6, 2026, Deutsche Telekom increased its 2026 share buyback program by up to EUR 3.00 billion. On October 5, 2026, the company held an AI Investor Day and presented an external AI revenue target of EUR 800.00 million by 2030, as reported by Admiral Markets. On October 20, 2026, Barclays reduced its target from EUR 35.00 to EUR 32.00.

Dates investors can measure

Deutsche Telekom lists November 5, 2026 for third-quarter results and February 25, 2027 for fourth-quarter and full-year 2026 results. Those dates put the next operating update ahead of the longer-term annual review.

Stock holds above the close

The current move is modest but clears the 1.00 percent threshold used for a directional description. Deutsche Telekom stock was trading at EUR 25.76 at Lang & Schwarz on October 22, 2026 at 11:16 a.m. CEST, 1.02 percent above the Xetra close of October 21, 2026 at EUR 25.50. The further course of trading is shown by the continuously updated real-time quote of Deutsche Telekom stock.