Telefonica stock: Berenberg cuts target for Telefonica stock to EUR 3.20

Published on 10/22/2026 at 16:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Results are due November 12, 2026 for Telefonica. Telefonica stock costs EUR 3.48 on October 22, 2026, 0.87 percent above the Xetra close.

Analyst target and reporting date

Berenberg cut its Telefonica target from EUR 3.50 to EUR 3.20 on October 1, 2026.
Telefonica lists its January-September 2026 results for November 12, 2026.
Telefonica stock costs EUR 3.48 at Lang & Schwarz on October 22, 2026 at 4:39 p.m. CEST, 0.87 percent above the EUR 3.45 Xetra close of October 21, 2026.
The stock is 24.68 percent below its 52-week high of EUR 4.62.

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Telefonica stock (ISIN ES0178430E18) is trading 0.87 percent above the Xetra close after Berenberg cut its target from EUR 3.50 to EUR 3.20 on October 1, 2026, as reported by PcBolsa. At Lang & Schwarz, the stock was trading at EUR 3.48 on October 22, 2026 at 4:39 p.m. CEST, 0.87 percent above the Xetra close of October 21, 2026 at EUR 3.45.

What does the target cut imply?

Berenberg's revised target is EUR 0.30 below its previous EUR 3.50 objective. The change puts the latest analyst view below the current German-market quote, while the target itself remains a dated valuation reference rather than a forecast from the company.

Results date is November 12

Telefonica's investor calendar lists January-September 2026 results for November 12, 2026. The date gives investors the next scheduled operating update, including the company's revenue, earnings and guidance figures for the first nine months.

Price position on October 22

The 52-week range runs from EUR 3.21 to EUR 4.62 as of October 22, 2026. At EUR 3.48, the stock is 8.41 percent above the low and 24.68 percent below the high. Trading volume on the Spanish listing was 7,448,465 shares at 4:36 p.m. CEST.

Valuation and peer comparison

Telefonica had a market capitalization of EUR 19.6 billion and a dividend yield of 8.00 percent on October 22, 2026. Its price-to-earnings ratio was negative, so the comparison below uses the available yield and market-value measures where appropriate.

Comparison with peers

Telefonica: plus 0.87 percent on October 22, 2026, dividend yield 8.00 percent, market capitalization EUR 19.6 billion.

Deutsche Telekom (Xetra, EUR): plus 2.63 percent on October 22, 2026, P/E 14.63, market capitalization EUR 125.2 billion.

Vodafone (LSE, GBp): plus 1.81 percent on October 22, 2026, dividend yield 3.00 percent, market capitalization GBP 28.0 billion.

Telefonica price and target

The Berenberg target cut leaves the latest published objective at EUR 3.20, compared with EUR 3.50 previously. At Lang & Schwarz, Telefonica was trading at EUR 3.48 on October 22, 2026 at 4:39 p.m. CEST, up 0.87 percent versus the Xetra close of October 21, 2026 at EUR 3.45. The further course of trading is shown by the continuously updated real-time quote of Telefonica stock.