Deutsche Telekom Stock: Soars to 23-Year High on Strong Growth

Deutsche Telekom's stock reached a remarkable 23-year peak, climbing 3.7% to €28.87, following impressive quarterly results. The telecommunications giant reported a 3.6% increase in third-quarter revenue, totaling €28.5 billion, while adjusted EBITDA AL surged by 6.4% to €11.1 billion. This robust performance, driven significantly by the company's thriving US operations, has propelled Deutsche Telekom to the forefront of the German stock market's performance rankings.

Optimistic Outlook and Shareholder Rewards

Analysts express confidence in Deutsche Telekom's future, projecting earnings per share of €1.79 for 2024 and setting an average price target of €34.21, indicating substantial upside potential. The company's financial stability is further underscored by its success in reducing debt below target levels. In response to its strong position, Deutsche Telekom has raised its annual operating profit forecast and announced plans to increase dividends to €0.90 per share. Additionally, the telecom leader intends to initiate a share buyback program worth up to €2 billion, reflecting its confidence in continued growth and commitment to shareholder value.