Goldman cut target for Telekom stock from EUR 40.00 to EUR 38.00

Published on 10/13/2026 at 09:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Organic service revenue grew 3.90 percent in the first half of 2026. Telekom stock costs EUR 25.36 versus EUR 24.98 on October 13, 2026.

Key points in brief

Goldman Sachs cut its Deutsche Telekom price target from EUR 40.00 to EUR 38.00 while keeping a Buy rating on October 5, 2026.
Organic service revenue grew 3.90 percent and organic EBITDA rose 7.40 percent in the first half of 2026.
Telekom stock was at EUR 25.36 at Lang & Schwarz on October 13, 2026, up 1.52 percent versus the Xetra close of October 12, 2026.
Deutsche Telekom is scheduled to publish third-quarter 2026 results on November 5, 2026.

Aquarellmalerei der Bonner Skyline entlang des Rheins mit modernen Bürotürmen — Deutsche Telekom AG (DE0005557508) hat ihren Hauptsitz in Bonn, gezeigt als stimmungsvolle Aquarell-Stadtansicht, Illustration mit AI erstellt.

Telekom (ISIN DE0005557508) was trading at EUR 25.36 at Lang & Schwarz on October 13, 2026 at 9:14 a.m. CEST, 1.52 percent above the Xetra close of EUR 24.98 from October 12, 2026. Goldman Sachs cut its Deutsche Telekom price target from EUR 40.00 to EUR 38.00 on October 5, 2026, while keeping a Buy rating, according to Investor SMS.

Target cut meets stronger operations

The target reduction contrasts with operating growth reported for the first half of 2026. Deutsche Telekom said in its earnings call that organic service revenue grew 3.90 percent, organic EBITDA increased 7.40 percent and adjusted earnings per share rose 10.30 percent in that period, according to Yahoo Finance on September 19, 2026.

For the second quarter of 2026, revenue reached EUR 30.60 billion, up 4.30 percent from the second quarter of 2025, while net income fell 6.30 percent to EUR 2.45 billion. The comparison shows why analysts can remain positive on earnings conversion while lowering valuation assumptions, according to Simply Wall St.

AI savings add a second earnings lever

At its investor day on October 6, 2026, Deutsche Telekom presented 2027 ex-US free cash flow after leases guidance of EUR 3.70 billion to EUR 3.90 billion. The figure links the AI strategy to cash generation rather than treating automation as a standalone technology project, according to Quartr.

What comes before the next results?

Deutsche Telekom is scheduled to publish its third-quarter 2026 results on November 5, 2026, according to the company investor-relations calendar. The same calendar lists fourth-quarter 2026 results for February 25, 2027, giving the next two reporting checkpoints a clear date.

For investors, the central tension is measurable: first-half organic EBITDA grew 7.40 percent, while Goldman Sachs reduced its target by EUR 2.00 from EUR 40.00 to EUR 38.00. The stock therefore combines operating expansion with a lower valuation reference from a named analyst house.

Telekom stock remains above its Xetra close

At Lang & Schwarz, Telekom stock was trading at EUR 25.36 on October 13, 2026 at 9:14 a.m. CEST, up 1.52 percent versus the Xetra close of October 12, 2026 at EUR 24.98. The primary listing is on Xetra, where the quoted currency is EUR; the 52-week range was EUR 23.53 to EUR 34.36 as of October 13, 2026.

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