Deutsche Telekom falls as JPM cuts target on cloudy U.S. outlook

Deutsche Telekom AG

13/04/2026 16:25

** Shares in Deutsche Telekom DBKGn.DE fall 6% to over 2-month low after J.P. Morgan trims price target, citing storm clouds overhanging its U.S. outlook

** "Whilst a growing appreciation of these risks has seen Deutsche Telekom's shares retreat to a more reasonable 31 euros per share, we nevertheless find ourselves expecting the Q1 reporting season to leave investors with more questions than answers," it adds

**  JPM cuts the German company's target price to 40 euros ($46.88) per share from 41.5 euros, keeping an overweight rating

** JPM sees Deutsche Telekom modestly underperforming near term until U.S. visibility improves. It then sees investors focussing back on its "robust" EPS growth

** STOXX Europe Telecommunications index .SXKP is among the worst performers on the pan-European STOXX 600 .STOXX index

($1 = 0.8533 euros)

 (Reporting by Ozan Ergenay and Danilo Masoni)

 ((ozan.ergenay@thomsonreuters.com))