Deutsche Telekom Keeps Its Network Crown as Analysts Split on Valuation and AI Plans Take Shape
Published on 11/08/2026 at 13:41 | Editorial boerse-global.de
Deutsche Telekom has extended one of the more durable streaks in European telecoms. In the latest mobile network test conducted by Computer BILD, the Bonn-based group finished first for the 15th time in a row, earning an overall grade of "very good (1.2)." Company figures put it ahead of rival operators on both 5G speed and 5G coverage.
The result landed on Friday, the same day two research houses issued contrasting verdicts on the stock. UBS trimmed its price target to EUR 35 from EUR 35.10 while keeping a "Buy" rating, so the modest cut carried no change in recommendation. Deutsche Bank Research, by contrast, reaffirmed both its "Buy" call and its EUR 40 target, with analysts pointing to strong metrics in Germany and Europe following the quarterly update.
Upgraded Outlook Built on Organic Growth
Those quarterly figures, released on Thursday, provide the backdrop for both the analyst notes and a string of infrastructure announcements. For the third quarter of 2026, Deutsche Telekom reported organic revenue growth of 5.5%, taking turnover to EUR 31.1 billion. Adjusted EBITDA AL rose 8.0% on an organic basis to EUR 12.2 billion.
The group also raised its full-year guidance. It now expects adjusted EBITDA AL of around EUR 47.6 billion for 2026, with free cash flow AL of roughly EUR 20.1 billion. Management intends to propose a dividend of EUR 1.10 per share.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
Investors will get the next set of hard numbers on 25 February 2027, when the company publishes results for the fourth quarter and the full year 2026.
AI Infrastructure and a Digital Euro Mandate
Alongside the financial update, T-Systems has been building out its technology partnerships. On Tuesday it signed a letter of intent with Sparxity, a Dresden-based firm, covering energy-efficient AI computing infrastructure and the integration of Sparxity technology into Telekom data centres. The agreement was concluded at the Digital Summit. Deployment of the next chip generation in Telekom data centres is pencilled in for 2028, meaning the arrangement is a planned collaboration whose implementation still lies ahead.
Deutsche Telekom has also scheduled a press conference on AI infrastructure for Germany and Europe on 9 November 2026, billed under the banner "KI-Fabrik 2.0."
Deutsche Telekom at a turning point? This analysis reveals what investors need to know now.
On the payments side, the European Central Bank said on 30 October that it had selected Nexi Payments and Deutsche Telekom Business Solutions as joint network service providers. The contract with the first-ranked provider covers the pilot phase initially and took effect on 28 September, so the award relates specifically to network services for that trial stage.
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