JPMorgan raises target for Orange stock to EUR 22.60

Published on 10/13/2026 at 09:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Orange reported EUR 20.9 billion revenue in the first half of 2026, up 3.50 percent. Orange stock costs EUR 13.86 versus its EUR 18.81 high.

JPMorgan raised its Orange price target from EUR 22.50 to EUR 22.60 on October 7, 2026.
Orange reported EUR 20.9 billion in first-half 2026 revenue, up 3.50 percent year over year.
Orange stock was trading at EUR 13.86 at Lang & Schwarz on October 13, 2026 at 9:11 a.m. CEST.
Orange's next quarterly revenue update is scheduled for October 27, 2026.

Schwarzweiß-Reportagefoto von Technikern bei Installation eines Mobilfunkmasts auf Hausdach — Orange S.A. (FR0000133308) baut Mobilfunkinfrastruktur aus, Reportage zeigt Techniker bei Mastmontage auf Dach, Illustration mit AI erstellt.

Orange (ISIN FR0000133308) was trading at EUR 13.86 at Lang & Schwarz on October 13, 2026 at 9:11 a.m. CEST. On October 7, 2026, Boursorama reported that JPMorgan raised its Orange target from EUR 22.50 to EUR 22.60 while keeping an Overweight rating.

Three dated signals for Orange

On July 28, 2026, Orange Newsroom reported first-half revenue growth of 3.50 percent and EBITDAaL growth of 5.00 percent. On October 5, 2026, L Informé reported that Orange had opened discussions to acquire a 70 percent stake in Telecel Ghana. On October 7, 2026, Markets Insider confirmed the JPMorgan target increase to EUR 22.60 from EUR 22.50.

What does the target increase change?

The adjustment is modest at EUR 0.10, but it places the analyst view above Orange's current market price. JPMorgan also identified October 27, 2026, as the date for Orange's third-quarter results and forecast third-quarter revenue of EUR 12.12 billion, according to Boursorama.

Revenue growth meets balance-sheet pressure

Orange's first-half 2026 revenue reached EUR 20.9 billion, up 3.50 percent year over year, while EBITDAaL increased 5.00 percent to EUR 6.10 billion, according to Orange Newsroom. The growth profile is strongest in Africa and the Middle East, where revenue rose 13.90 percent, while Orange Business remained a weaker area in the first-half report.

The expansion agenda therefore carries a financing counterweight. Orange's possible Telecel Ghana transaction would add a 70 percent stake, while the company is also integrating MasOrange in Spain and managing a higher debt burden after that consolidation.

Dates ahead for Orange stock

Boursorama lists October 27, 2026, for Orange's third-quarter revenue update and February 18, 2027, for full-year results. Those dates give investors two defined checkpoints for testing the growth and cash-flow assumptions behind the EUR 22.60 target.

Orange stock stays below its yearly high

Orange stock was trading at EUR 13.86 at Lang & Schwarz on October 13, 2026 at 9:11 a.m. CEST, against a 52-week range of EUR 13.43 to EUR 18.81 and a market capitalization of EUR 36.5 billion as of October 12, 2026. The further course of trading is shown by the continuously updated real-time quote of Orange stock.