Telefonica stock slips as analysts lift the target to EUR 4.90
Published on 09/07/2026 at 21:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Telefonica stock (ES0178430E18) traded at EUR 3.67 on September 7, 2026, after a move of minus 0.27 percent on volume of 189,370 shares, while Goldman Sachs now sees EUR 4.90, or 34 percent upside. Cronista and Investing.com both pointed to the new setup on September 7, 2026.
Satellite talks add a new angle
Reuters reported on September 7, 2026 that Deutsche Telekom, Orange, Vodafone Group and Telefonica are in early talks to create a consortium for satellite spectrum and direct-to-mobile services. For Telefonica, the detail matters because it adds a strategic option beyond the core Spanish and Latin American footprint.
The stock still trades against a simple number: EUR 3.67 versus a Goldman Sachs target of EUR 4.90, a gap of EUR 1.23. That spread is the clearest market signal in the current tape.
Latest reported figures
Telefonica reported first-half 2026 revenue of EUR 18.0 billion, down 3.3 percent year on year, with EBITDAaL at EUR 5.8 billion and net income at EUR 558 million. The company also said free cash flow reached EUR 2.6 billion, which helps explain why investors keep watching the cash line as closely as the top line.
Those figures give the satellite news context: a business with EUR 18.0 billion of first-half revenue and EUR 2.6 billion of free cash flow has room to assess new projects, but the revenue decline shows the core operation still needs discipline.
Telefonica's core networks
Telefonica's mobile and fixed-line networks remain the group's main revenue engine, with Spain, Brazil and Germany still central to the mix. The latest first-half 2026 numbers show that the business is leaning on scale, cost control and cash generation rather than growth alone.
Price and market view
The share price of EUR 3.67 on September 7, 2026 leaves Telefonica well below the EUR 4.90 analyst target cited by Goldman Sachs. For investors, the next reading is whether the satellite talks and the cash profile can narrow that gap.
Telefonica stock facts
- Company: Telefonica S.A.
- ISIN: ES0178430E18
- Ticker: TEF
- Trading venue: Bolsa de Madrid
- Price (as of September 7, 2026): EUR 3.67
- Sector / Industry: Telecommunications Services / Diversified Telecommunication Services
- Index membership: IBEX 35
