Citi Research cuts target for KPN stock to EUR 4.90
Published on 10/01/2026 at 10:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
KPN (ISIN NL0000009082) stock was trading at EUR 3.92 at Lang & Schwarz on October 1, 2026 at 10:42 a.m. CEST, down 1.01 percent versus the prior close of EUR 3.96. According to MarketScreener on September 18, 2026, Citi Research cut its KPN target from EUR 5.00 to EUR 4.90 while keeping its Buy rating.
Citi keeps the Buy rating
The revised target lies 25.00 percent above the Lang & Schwarz price of EUR 3.92. Citi analyst Carl Murdock-Smith also said the third-quarter figures scheduled for October 28 would provide greater clarity, while Citi's estimates stood 1.00 percent below consensus, according to MarketScreener.
The target change adds a clear counterweight to KPN's latest operating picture. The stock price is below the target, but the analyst commentary also points to softer near-term earnings conditions and the importance of cash flow after the fiber rollout.
Second-quarter revenue reached EUR 1.46 billion
KPN reported adjusted revenue of EUR 1.46 billion in the second quarter of 2026, down 0.50 percent year over year, while adjusted EBITDA after leases reached EUR 668.00 million and the comparable figure rose 3.40 percent year over year, according to Flash.
First-half 2026 free cash flow reached EUR 329.00 million. Management reduced full-year 2026 service-revenue growth guidance to 1.50 percent, while maintaining adjusted EBITDA after leases guidance of EUR 2.67 billion and free cash flow guidance above EUR 950.00 million, the same report said.
October 27 sets the next test
KPN also accepted EUR 407.00 million of securities in its tender offer, leaving EUR 93.00 million outstanding after settlement, according to MarketScreener on September 9, 2026. The transaction is a balance-sheet measure that sits alongside the operating questions raised by Citi.
MarketScreener lists October 27, 2026 as KPN's next earnings release date. That report will put the EUR 2.67 billion adjusted EBITDA after leases guidance and the 1.50 percent service-revenue growth outlook against fresh operating data.
KPN stock remains below its yearly high
KPN stock was trading at EUR 3.92 at Lang & Schwarz on October 1, 2026 at 10:42 a.m. CEST, down 1.01 percent versus the prior close of EUR 3.96. The EUR 3.92 price is 20.16 percent below the 52-week high of EUR 4.91, while KPN's market capitalization was EUR 15.0 billion on the same date.
The further course of trading is shown by the continuously updated real-time quote of KPN stock.
KPN stock at a glance
- Company: Koninklijke KPN N.V.
- ISIN: NL0000009082
- Ticker: KPN.AS
- Primary exchange: Euronext Amsterdam
- Price Lang & Schwarz (as of October 1, 2026, 10:42 a.m. CEST): EUR 3.92
- Change versus prior close: minus 1.01 percent
- Prior close Lang & Schwarz (September 30, 2026): EUR 3.96
- Market capitalization: EUR 15.0 billion (as of October 1, 2026)
- 52-week range: EUR 3.75-EUR 4.91 (as of October 1, 2026)
- Sector / Industry: Communication Services / Telecommunications Services
- Next earnings date: October 27, 2026
