Deutsche Telekom has been upgraded by UBS from "Neutral" to "Buy," with a higher price target of EUR 33. This upgrade is due to the company's strong performance in the USA, which is seen as a defensive investment with growth potential.
The upgrade is also influenced by favorable currency effects that positively impact the company's operating profit. Following the announcement, Deutsche Telekom shares rebounded and traded above their 21-day moving average of EUR 29.49. On Friday, the stock rose by 0.62 percent, closing at EUR 29.44.
This indicates a positive response from investors to UBS's recommendation, showing renewed confidence in the telecommunications giant's market position.