Cellnex stock: Jefferies cuts target for Cellnex stock to EUR 34.00

Published on 10/22/2026 at 17:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Free cash flow hit EUR 301.00 million for first-half 2026. Cellnex stock costs EUR 25.95 on October 22, 2026, up 1.61 percent versus the Xetra close.

Analyst target and reporting date

Jefferies cut its Cellnex target from EUR 36.00 to EUR 34.00 on October 20, 2026.
Free cash flow reached EUR 301.00 million in the first half of 2026.
Cellnex stock costs EUR 25.95 at Lang & Schwarz on October 22, 2026 at 5:49 p.m. CEST, 1.61 percent above the Xetra close of October 21, 2026.
Cellnex scheduled its third-quarter results for November 5, 2026.

Börsenparkett mit Händlern und Kurscharts der Telekombranche — Editorial-Foto eines Börsenparketts mit Telekom-Charts illustriert die Börsennotierung von Cellnex Telecom S.A., ISIN ES0105066007, Illustration mit AI erstellt.

Jefferies cut its Cellnex price target from EUR 36.00 to EUR 34.00 on October 20, 2026, while retaining its Buy rating, according to Bolsamania. At Lang & Schwarz, Cellnex was trading at EUR 25.95 on October 22, 2026 at 5:49 p.m. CEST, plus 1.61 percent versus the Xetra close of October 21, 2026 at EUR 25.54.

Free cash flow reached EUR 301.00 million

Cellnex reported free cash flow of EUR 301.00 million for the first half of 2026, according to the company's investor-relations page dated July 30, 2026. The same company update said Cellnex planned an additional EUR 200.00 million of shareholder remuneration during 2026. These figures put cash generation and capital allocation at the center of the company's investment case.

The stock sits 20.67 percent below its high

Cellnex traded within a EUR 25.33 to EUR 25.96 daily range on October 22, 2026. Its 52-week range was EUR 21.84 to EUR 32.71, leaving the stock 18.82 percent above the low and 20.67 percent below the high. The market capitalization stood at EUR 17.1 billion, while the stock was up 4.20 percent from the start of 2026 as of October 21.

What comes next for Cellnex?

Cellnex's next scheduled reporting date is November 5, 2026, when the company is expected to publish third-quarter results, according to Bolsamania. Jefferies forecasts EUR 4.14 billion of 2026 revenue and EUR 3.49 billion of adjusted EBITDA, figures that are estimates rather than reported results. Its target of EUR 34.00 lies 31.02 percent above the Lang & Schwarz price of EUR 25.95.

Comparison with peers

Cellnex: plus 1.61 percent, dividend yield 3.00 percent, market capitalization EUR 17.1 billion.
American Tower Corporation (NYSE, USD): plus 2.27 percent, P/E 24.97, market capitalization USD 84.7 billion.
SBA Communications Corporation (NASDAQ, USD): plus 2.14 percent, P/E 19.05, market capitalization USD 18.8 billion.

Target gap and trading level

Jefferies' revised EUR 34.00 target remains 31.02 percent above the EUR 25.95 Lang & Schwarz price. The stock therefore combines a positive daily move with a wide gap to the latest named analyst target.

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