Deutsche Telekom Sweeps Another Network Test as Broker Targets Move in Opposite Directions
Published on 11/15/2026 at 03:01 | Editorial boerse-global.de
Deutsche Telekom has added a second mobile-network accolade in the space of a week, reporting on Tuesday that it took first place in the 2026 mobile network test conducted by IMTEST and zafaco. Among four German operators, the Bonn-based group earned an overall grade of "very good (1.24)."
The win follows the company's announcement that it also topped the Computer BILD mobile network test on 6 November — its 15th consecutive first-place finish there, with an overall mark of "very good (1.2)." The two honours stem from separate assessments: IMTEST and zafaco graded the operators jointly, while the Computer BILD result was reported by the company for that publication's own test.
Away from the network benchmarks, analysts have been recalibrating their views on the stock. Barclays raised its price target to EUR 33 from EUR 32 on Wednesday while keeping an "Overweight" rating, according to media reports. Analyst Mathieu Robilliard pointed to strong results, though he flagged competition from satellite communications as a drag on sentiment toward T-Mobile US.
Goldman Sachs moved the other way, cutting its target to EUR 36 from EUR 38 on 6 November. The house reaffirmed its buy recommendation, with analyst Andrew Lee citing the quarterly figures, updated forecasts for subsidiary T-Mobile US and currency movements as the reasons for the adjustment.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
Guidance Lifted After a Strong Third Quarter
The divergent targets follow Telekom's third-quarter 2026 results, which showed organic revenue growth of 5.5% to EUR 31.1 billion. Adjusted EBITDA AL climbed 8.0% organically to EUR 12.2 billion. On the back of that performance, the group lifted its full-year forecast for adjusted EBITDA AL to around EUR 47.6 billion and said it expects free cash flow AL of roughly EUR 20.1 billion.
Infrastructure spending continues in parallel. Telekom announced an advisory day on fibre in Bernau, where 3,200 households can be connected to the fibre network, with the group offering on-site consultations to local residents. On the AI side, it said on Monday that it would expand its Industrial AI Cloud at Munich's Tucherpark in response to strong demand, lifting capacity to 20 megawatts at a cost of just under a further quarter of a billion euros. The existing systems are to receive additional NVIDIA Blackwell Ultra GPUs.
Earlier, on 3 November, Telekom subsidiary T-Systems signed a letter of intent with Dresden-based AI infrastructure firm Sparxity to collaborate on integrating and validating energy-efficient AI chips and computing systems for use in Telekom data centres.
Deutsche Telekom at a turning point? This analysis reveals what investors need to know now.
On the customer side, the company on Wednesday unveiled changes to its Magenta Moments loyalty programme, with the "Magenta Wednesday" launching with promotions and prize draws for customers. Investors will get their next look at the numbers when fourth-quarter 2026 results are published, expected on 25 February 2027.
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