Citi ups Cellnex to 'buy' seeing opportunity in underperformance

Cellnex Telecom S.a

19/09/2025 07:30

** Citigroup upgrades Spanish telecoms infrastructure operator Cellnex CLNX.MC to "buy" from "neutral," saying the stock's underperformance creates an opportunity for investors

** The broker says the underperformance is partly driven by uncertainty over a potential French consolidation, which it believes would have a "limited impact, if any"

** It finds current share price as an "attractive entry point" as the stock now trades at a substantial discount to its own historical valuations

** Citi also sees shareholder return reaching at least 4% yield for the next year, further growing to around 7.5% by 2028 and around 9% by 2030

** Out of 29 analysts that cover Cellnex, 21 rate the stock "strong buy" or "buy,"​ six rate "hold" and two​ rate the stock "strong sell" or "sell" - LSEG data

(Reporting by Marta Serafinko in Gdansk)

((Marta.Serafinko@thomsonreuters.com; +48 58 769 66 00;))