J.P. Morgan keeps Buy rating for Deutsche Telekom stock at EUR 38.00

Published on 10/22/2026 at 09:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Deutsche Telekom stock costs EUR 25.63 on October 22, 2026, 0.51 percent above the Xetra close. Results are due November 5, 2026.

Analyst view and operating targets

J.P. Morgan maintained its Buy rating and EUR 38.00 price target on October 21, 2026.
Deutsche Telekom targets EUR 800 million in AI-related revenue by 2030.
Deutsche Telekom stock trades at EUR 25.63 at 9:15 a.m. CEST at Lang & Schwarz on October 22, 2026, 0.51 percent above the Xetra close of October 21, 2026.
Third-quarter results are scheduled for November 5, 2026.

Mobilfunkmast mit 5G-Antennen vor blauem Himmel, Glasfaserkabel am Sockel — Deutsche Telekom AG (DE0005557508) betreibt Mobilfunkmasten mit 5G-Antennen für flächendeckende Netzabdeckung in Deutschland, Illustration mit AI erstellt.

Deutsche Telekom (ISIN DE0005557508) was trading at EUR 25.63 at Lang & Schwarz on October 22, 2026, at 9:15 a.m. CEST, 0.51 percent above the Xetra close of October 21, 2026. Markets Insider reported on October 21, 2026, that J.P. Morgan maintained its Buy rating and EUR 38.00 price target. The target is EUR 12.37 above the current Lang & Schwarz price.

Target stays at EUR 38.00

The analyst decision keeps the central valuation reference unchanged as Telekom approaches its next results date. The EUR 38.00 target is 48.26 percent above the EUR 25.63 Lang & Schwarz price, calculated in euros and based on the October 22, 2026 quotation.

What does the AI target mean?

Deutsche Telekom said on October 5, 2026, that it aims to generate EUR 800 million in AI-related revenue from business outside the United States by 2030. The same plan targets EUR 2.5 billion in indirect cost savings by 2030, giving investors two measurable operating targets beyond the stock quotation.

Three milestones shape the picture

On August 6, 2026, Deutsche Telekom announced an increase of its 2026 share buyback program by up to EUR 3.00 billion, according to its investor-relations information. On October 5, 2026, the company presented its AI revenue and savings targets. On October 21, 2026, J.P. Morgan maintained its EUR 38.00 target, according to Markets Insider.

Upcoming reporting dates

Deutsche Telekom investor relations lists November 5, 2026, for the publication of third-quarter results and February 25, 2027, for fourth-quarter and full-year 2026 results. The November release will provide the next reported test of the company growth targets.

Stock remains below its yearly high

At EUR 25.63, the stock sits within its EUR 23.53 to EUR 34.36 52-week range as of October 22, 2026. The market capitalization was EUR 122.5 billion on the same date, while the shares remained EUR 8.73 below the 52-week high.

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