Cellnex stock: Jefferies cuts target from EUR 36.00 to EUR 34.00

Published on 10/21/2026 at 15:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Free cash flow guidance is EUR 600.00-700.00 million for 2026. Cellnex stock costs EUR 25.63 on October 21, 2026, down 0.50 percent versus the BME close.

Jefferies target cut

Jefferies cut its Cellnex target from EUR 36.00 to EUR 34.00 on October 20, 2026.
Cellnex targets EUR 600.00-700.00 million in free cash flow for 2026.
Cellnex stock costs EUR 25.63 at Lang & Schwarz on October 21, 2026 at 3:00 p.m. CEST, minus 0.50 percent versus the BME close of October 20, 2026.
Cellnex lists its third-quarter results for November 5, 2026.

Bauhaus-Poster mit geometrischen Formen und stilisiertem Funkmast — Geometrisches Bauhaus-Poster mit Sendemast-Symbolik steht sinnbildlich für Cellnex Telecom S.A., ISIN ES0105066007, Spanien, Illustration mit AI erstellt.

Cellnex (ISIN ES0105066007) faces a Jefferies target cut from EUR 36.00 to EUR 34.00, a change reported on October 20, 2026 by Benzinga. Cellnex stock was trading at EUR 25.63 at Lang & Schwarz on October 21, 2026 at 3:00 p.m. CEST, down 0.50 percent versus the BME close of October 20, 2026 at EUR 25.76.

Cash flow remains central

Jefferies maintained its Buy rating while reducing the target from EUR 36.00 to EUR 34.00. The new target stands 32.66 percent above the Lang & Schwarz price. The firm pointed to refinancing costs as the key change in its assessment, while Cellnex's operating path had changed little, Benzinga reported on October 20, 2026.

Cellnex targets free cash flow of EUR 600.00-700.00 million for fiscal year 2026 and EUR 975.00-1.18 billion for fiscal year 2027. In the first half of 2026, free cash flow reached EUR 301.00 million, compared with EUR 19.00 million in the first half of 2025, according to Cellnex.

Stock stays below its yearly high

The current euro price sits within Cellnex's 52-week range of EUR 21.84 to EUR 32.71 as of October 21, 2026. It is 21.65 percent below the 52-week high and 17.37 percent above the 52-week low. The same market snapshot showed a market capitalization of EUR 16.9 billion and volume of 378,022 shares.

What comes next for Cellnex?

Cellnex lists its third-quarter results for November 5, 2026. The date was also cited by Benzinga on October 20, 2026, with the status described as pending confirmation. For investors, the next report will put the 2026 cash-flow range and financing costs alongside the first-half comparison.

Comparison with peers

Cellnex: minus 0.50 percent, price-to-earnings ratio minus 49.68, market capitalization EUR 16.9 billion.

American Tower: plus 0.29 percent, price-to-earnings ratio 25.25, market capitalization USD 85.5 billion.

Crown Castle: plus 0.10 percent, price-to-earnings ratio 32.98, market capitalization USD 35.5 billion.

Price and target in view

Jefferies' revised EUR 34.00 target leaves a 32.66 percent gap above the Lang & Schwarz price, while the BME close of EUR 25.76 provides the daily comparison. Cellnex's next reported figures will show whether cash generation is keeping pace with financing demands.

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