Deutsche Telekom Spends €22.5m on Buybacks Amidst Clashing Analyst Views and T-Mobile US Overhaul
Published on 07/11/2026 at 07:34 | Redaktion boerse-global.de
Deutsche Telekom has been quietly absorbing its own stock through the Xetra exchange, buying back 908,705 shares between July 1 and 3 for an average price of roughly €24.74 apiece. The €22.5 million outlay is part of the Bonn-based group’s third buyback tranche of 2026, a programme that carries a total envelope of up to €2 billion. Management has earmarked €560 million for this phase alone, which is scheduled to run through the end of September. The purchases have provided a visible floor during a period of elevated volatility, helping the shares recover from the 52-week low of €23.54 touched on June 30.
Across the Atlantic, T-Mobile US is preparing for a significant operational reset. Starting July 13, millions of legacy customers will be migrated into newer plan structures, a move that brings moderate price increases but is principally aimed at protecting margins in the company’s most profitable segment. Alongside the tariff overhaul, the US subsidiary is reshuffling its leadership: Chris Sambar will take over the enterprise business, while André Almeida assumes responsibility for consumer and broadband operations. The appointments are designed to sustain growth momentum beyond 2026.
Analyst opinion on the stock remains sharply divided. JPMorgan’s Akhil Dattani reiterated his “Overweight” rating with a €40 price target, arguing that the current valuation represents a historic disconnect from the company’s fundamentals. That target implies roughly 53% upside from recent levels. Dattani expects double-digit earnings-per-share growth and sees the market as overly discounting strategic uncertainties such as competition from SpaceX in satellite internet and speculation about US M&A involving T-Mobile. Across the Street, Barclays’ Mathieu Robilliard cut his price target from €39.50 to €36.50, yet still rates the stock “Overweight.” He contends that the shares have underperformed the broader sector in 2026 and now price in excessively negative scenarios, including tough US broadband competition and uncertainty over potential group restructuring.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
The consensus among the 17 analysts covering Deutsche Telekom remains firmly bullish, with a median target of €37.69 and a “Strong Buy” signal. Morningstar has also upgraded its stance, awarding a five-star rating and setting a fair value of $44 for the US-listed American Depositary Receipt.
After dipping to the year’s low, the equity has clawed back above €26. It closed last Friday at €26.15, up 3.4% on the day and 3.77% for the week. The monthly picture is still negative — an 8.18% decline — and the shares are down 6.17% year-to-date. Relative to the 52-week high of €34.35 from late February, they remain nearly 24% below that peak.
Technically, the stock is trading below all its key moving averages: the 50-day sits at €27.38, the 100-day at €29.31, and the 200-day at €28.68. The Relative Strength Index has moved into neutral territory, reading 48.2 in one calculation and 48.9 in another, suggesting neither overbought nor oversold conditions. Annualised 30-day volatility stands at 31.74%, reflecting the continued jitters around the name. Short-term resistance is pegged at €26.00–€26.18, with further hurdles near €26.50 and the moving averages. Support is seen in a zone between €23.13 and €23.47.
The next major catalyst will be the second-quarter and first-half results, due on August 6. By then, the market will have a clearer view of whether the buyback programme and the T-Mobile US overhaul are beginning to leave an operational footprint. For now, the tug-of-war between bullish analyst projections and persistent strategic concerns leaves the stock in a delicate balance. As Dattani himself acknowledges, a sustainable improvement in the news flow may still be several quarters away.
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