Citigroup ups KPN citing FCF prospects, stable market

Koninklijke KPN NV

26/06/2026 08:12

** Citigroup upgrades Dutch telecom group KPN KPN.AS to "buy" from "neutral", citing a step-up in FCF from 2027 as fibre investment eases
** The broker says KPN should be a "core long-term holding" for defensive investors, highlighting its stable market and track record of delivery
** It adds recent share price weakness offers an opportunity to increase exposure, noting the stock has lagged peers in recent years -- the brokerage raises PT by 8.7% to €5.0
** On Thursday, KPN shares closed at €4.37, which is about 11% below their highest intraday price ever of €4.91 reached in March
** Out of 20 analysts, 9 rate KPN "strong buy"/"buy" and​ 11 "hold" - LSEG data
     

(Reporting by Ronan Corcoran)
((Gdansk newsroom))