Deutsche Telekom AG Stock (DTE): Price on 2 December 2025, Dividend Outlook, AI Cloud Bets and Analyst Targets

Deutsche Telekom AG’s stock is treading water at the start of December 2025, even as the company leans hard into AI, fiber and 6G — and most analysts still see sizeable upside.

As of late morning on 2 December 2025, Deutsche Telekom AG (Xetra: DTE, OTC: DTEGY) is trading around €27.6 on Xetra, slightly lower on the day and a long way off its 52‑week high near €35.9. ^[1] At this level the stock would need roughly 30% upside to revisit that high.

Below is a deep dive into the latest price action, dividend and buyback plans, AI strategy, analyst forecasts and technical signals as of 2 December 2025.

1. Deutsche Telekom share price today: flat start to December

Current price: Around €27.57–27.63 per share on Xetra late morning on 2 December 2025. ^[2]
Daily move: Roughly –0.2%; Finanzen.net describes the stock as showing “little change” in Tuesday morning trading. ^[3]
52‑week range:
- High: €35.91 (3 March 2025)
- Low: €26.00 (4 November 2025) ^[4]
Index weight: Deutsche Telekom is one of the heavyweights of the DAX, with a free‑float market cap around €136–137 billion and a DAX weighting of roughly 6.6%. ^[5]

Performance snapshot from finanzen.net:

6‑month performance: about –17%
1‑year performance: about –9%
5‑year performance: roughly +83%, showing strong longer‑term compounding despite the recent pull‑back. ^[6]

In other words, Deutsche Telekom is currently trading close to the lower half of its 52‑week range, after a strong multi‑year run that peaked earlier in 2025.

2. Fundamentals: earnings, guidance, dividend and buybacks

Q3 2025 results: steady numbers, raised guidance

On 13 November 2025, Deutsche Telekom reported Q3 2025 results broadly in line with expectations and raised its full‑year guidance: ^[7]

Q3 revenue: ~€28.9 billion, up about 3% organically.
Service revenue: Up roughly 3–4% on an organic basis. ^[8]
Adjusted EBITDA AL:€11.1 billion, essentially matching analyst estimates and up about 3% organically (reported growth held back by FX). ^[9]
Net profit: Down around 18% year‑on‑year to €2.43 billion, reflecting a mix of one‑offs and FX impacts. ^[10]

New full‑year 2025 guidance:

Core profit (EBITDA AL): About €45.3 billion (previous guidance: €45 billion).
Free cash flow after leases (FCF AL): Around €20.1 billion (previously “>€20 billion”). ^[11]

Management continues to stress strong execution in the U.S. (T‑Mobile US), fiber growth in Germany and a ramp‑up of AI investments as key drivers. ^[12]

Dividend: record payout in sight

Deutsche Telekom plans to raise the dividend again:

Last paid dividend (2025 for FY 2024): €0.90 per share. ^[13]
Planned dividend for FY 2025:€1.00 per share, confirmed by both the company and analyst estimates. ^[14]

At today’s share price around €27.6, a €1.00 dividend implies a forward dividend yield of roughly 3.6%, in line with finanzen.net’s estimate of 3.63%. ^[15]

StockInvest also notes the next ex‑dividend date is currently scheduled for 2 April 2026, with payment of the €1.00 dividend shortly afterwards. ^[16]

Share buybacks and capital structure

Deutsche Telekom is combining the higher dividend with ongoing buybacks:

2025 buyback program: Started 3 January 2025. By 30 September 2025 the group had repurchased around 47 million shares for roughly €1.5 billion. ^[17]
2024 program: Around 81 million shares bought back in 2024 were cancelled on 19 August 2025, reducing the share count. ^[18]

With around 4.9 billion shares outstanding, these buybacks represent roughly 2–3% of the share base over 2024–2025—supportive for earnings per share and dividends per share over time. ^[19]

On the credit side, Moody’s raised Deutsche Telekom’s rating to A3 (stable outlook) in September 2025, underlining a solid balance sheet despite heavy investment. ^[20]

3. Strategic growth pillars: AI, fiber, 5G – and now 6G

Industrial AI cloud with Nvidia and Brookfield

AI is the headline story in Deutsche Telekom’s current equity narrative.

In early November, Deutsche Telekom and Nvidia announced a €1 billion industrial AI cloud project in Munich, in partnership with infrastructure investor Brookfield. The aim: a large‑scale underground AI data center powered entirely by green electricity and designed for European manufacturers, SMEs, researchers and startups. ^[21]

CEO Tim Höttges has called AI transformative for “all areas” of the business—from customer service to network management—and indicated Telekom would be willing to “double down” on the investment if the first project is successful. ^[22]

AI “gigafactory” with Schwarz Group

On 1 December 2025, German press and dpa‑AFX reported that Deutsche Telekom and Schwarz Group (owner of Lidl and Kaufland) are in advanced talks to build a major AI “Factory” data center in Germany and apply for EU funding, potentially alongside a Canadian financial investor. ^[23]

This project would piggyback on Schwarz’s massive €11 billion data center investment in Brandenburg and aims to strengthen European sovereignty in AI infrastructure while keeping sensitive data on EU soil. ^[24]

5G and fiber rollout: scale and momentum

From the company’s Q3 2025 interim report and subsequent analysis: ^[25]

5G coverage in Germany: 5G now reaches 98.8% of the German population.
Fiber in Germany: Around 11.8 million households and businesses can subscribe to a fiber line; Q3 saw a record 155,000 net FTTH additions, the strongest pure‑fiber quarter so far. ^[26]
Europe footprint: In Telekom’s European markets, average 5G population coverage is ~89%, with about 10.9 million fiber‑passed households. ^[27]

ING’s “Telecoms Outlook 2025” paints a broadly supportive backdrop: it expects at least 2% sector‑wide revenue growth and slightly faster EBITDA growth for European telecoms in 2025, with capex staying high as operators complete fiber and 5G build‑outs and begin monetising AI use cases. ^[28]

6G research: project “6G‑TakeOff” completed

In late November 2025, Deutsche Telekom announced the successful completion of the three‑year 6G research project “6G‑TakeOff”, undertaken with 18 partners. ^[29]

Coverage from Finanztrends highlights that the consortium has filed seven patents and worked on 3D network concepts that flexibly combine terrestrial mobile, satellites and drones — ideas that could underpin future 6G architectures. ^[30]

While 6G standardisation is still years away, this research underscores Telekom’s ambition to remain at the technological frontier—potentially strengthening its long‑term competitive moat.

4. Analyst ratings and price targets: upside in the high 30s

Street price targets

As of 2 December 2025, the analyst community remains broadly bullish:

TipRanks (Xetra: DTE) reports an average 12‑month price target of €37.38, based on 7 Wall Street analysts in the last three months. Targets range from €35 to €42, implying about 35% upside from a recent price of €27.76. The consensus rating is “Strong Buy.” ^[31]
Finanzen.net cites an average target price around €38.90 and expects 2025 EPS of €1.97 per share and the €1.00 dividend. ^[32]
On the U.S. ADR DTEGY, MarketBeat aggregates 4 analysts with a “Moderate Buy” consensus (2 hold, 1 buy, 1 strong buy). ^[33]

Recent big‑bank notes

Two notable late‑November research flashes:

JPMorgan:
- Cut its Deutsche Telekom target from €43.50 to €39.00.
- Removed the share from its “Analyst Focus List” but kept an “Overweight” rating, calling Telekom one of its key favourites for 2026 amid expected sector consolidation and still‑low valuations. ^[34]
Bernstein Research:
- Reduced its target from €40 to €37 but maintained “Outperform.”
- The analyst notes that Telekom shares have suffered in 2025 due to fears of tougher U.S. competition and weaker German broadband prospects, but argues that cost headwinds in Germany should ease and Starlink is unlikely to be a major competitor in the U.S. mobile market. ^[35]

Overall, most large brokers still see double‑digit to mid‑30s percent upside from today’s price, even after trimming targets to reflect a slower 2025 and sector headwinds.

5. Valuation snapshot: still “strongly undervalued”?

Finanzen.net’s fundamental dashboard, powered by TheScreener and FactSet estimates, shows: ^[36]

2025e EPS: €1.97
2025e P/E: ~14.0x
2025e dividend: €1.00 per share
2025e dividend yield: ~3.6%
Market capitalisation: ~€136 billion
Free float: about 70% of shares

TheScreener classifies the stock as “strongly undervalued” with:

Positive analyst stance since early October 2025.
Low risk rating since mid‑October 2025. ^[37]

On the cash‑flow and balance‑sheet side, the company is targeting €20.1 billion FCF AL in 2025, which, if achieved, implies a free‑cash‑flow yield of roughly 14–15% on today’s market cap before dividends and buybacks. ^[38]

(Exact yields depend on final 2025 results and any further share repurchases.)

6. Technical picture and near‑term trading signals

While fundamentals and most analysts look positive, short‑term technical signals are more mixed.

StockInvest: downgraded to “Sell candidate”

Technical research site StockInvest.us downgraded Deutsche Telekom AG (DTE.DE) from Hold/Accumulate to “Sell candidate” after trading on 1 December 2025. ^[39]

Key points from their analysis:

Last close: €27.62, down 0.5% on the day, with intraday range between €27.54 and €28.06.
The share has gained about 1.4% over the last two weeks, but remains in the middle of a “wide and falling short‑term trend.”
Their model expects the stock could fall around 11.5% over the next three months, with a 90% probability that it ends that period between €22.44 and €25.13.
Short‑term moving averages generate a buy signal, but the longer‑term average still signals sell, leading to a cautious overall stance.

Despite this, StockInvest still describes Deutsche Telekom’s day‑to‑day volatility as low relative to many stocks, with average daily moves around 1–2% and good liquidity. ^[40]

Finanzen.net chart signals: mixed but stabilising

Finanzen.net’s chart‑signal overview for Deutsche Telekom shows a blend of bullish and bearish signals: ^[41]

Recent bullish signals:
- A MACD long signal in mid‑November.
- A new 4‑week high flagged on 1 December 2025.
Recent bearish signals:
- Several “new 4‑week low / 13‑week low / 26‑week low” alerts around 4 November 2025 when the stock touched the 52‑week low at €26.
- A “shooting star” candlestick pattern on 1 December, often interpreted as a short‑term warning sign after a bounce.

Taken together, the technicals suggest sideways consolidation near the lower end of the broader 2024–2025 trading range, with traders split between those betting on a rebound and those wary of further downside.

7. Sector context: a stable 2025 for European telecoms

The macro and industry backdrop matters a lot for a large incumbent like Deutsche Telekom.

ING’s “Telecoms Outlook 2025” expects: ^[42]

Around 2% revenue growth for the European telecom sector in 2025.
EBITDA growth slightly above revenue growth, helped by easing wage and energy cost pressures and ongoing efficiency programs.
Capex-to-sales ratios staying high (~17%), as operators finish fiber and 5G rollouts and increasingly invest in AI and energy‑efficient networks.
The biggest structural challenge is not fiber build‑out but fiber take‑up, i.e. convincing customers to migrate from copper/DSL or cable to fiber.
Germany is singled out as having made “great strides” in fiber coverage—estimated to reach around 59% of homes passed by end‑2025, up from just 24% in 2022.

Deutsche Telekom, as the dominant integrated operator in Germany and a major U.S. player via T‑Mobile US, is well positioned within that backdrop—but it also shoulders a large share of the capex burden and political expectations around Europe’s “digital decade” goals.

8. Key opportunities for Deutsche Telekom investors

1. Strong positions in both Europe and the U.S.

In Germany, Telekom leads in mobile and fixed, with 5G covering nearly the entire population and a rapidly expanding fiber footprint. ^[43]
In the U.S., T‑Mobile US continues to grow service revenues and EBITDA faster than the group average, helped by the UScellular and Metronet acquisitions in 2025. ^[44]

2. AI and cloud as new growth engines

The industrial AI cloud in Munich with Nvidia and Brookfield, plus the planned AI Factory with Schwarz Group, could create high‑margin infrastructure revenues and deepen relationships with industrial customers. ^[45]
Telekom is also using AI internally to optimise networks, customer service and back‑office processes, potentially lifting margins over time. ^[46]

3. Attractive shareholder returns

Dividend per share is rising steadily (from €0.77 in 2023 to €0.90 and now planned €1.00), with further increases expected in 2026 and 2027 (FactSet consensus: €1.14 and €1.27). ^[47]
Share buybacks of roughly €1.5 billion in 2025 and cancellation of 2024 buyback shares support EPS growth. ^[48]

4. Balance sheet and rating support

An A3 rating with stable outlook from Moody’s and a low Moody’s Analytics Risk Score reflect solid credit quality, giving Telekom room to finance capex and shareholder returns. ^[49]

5. Long‑term innovation (6G, language models, content)

Completion of the 6G “TakeOff” project, expansion of the Disney+ partnership, and Telekom’s work on a European large language model all reinforce its role as a technology leader in Europe rather than a pure utility‑style dividend payer. ^[50]

9. Key risks and what could go wrong

Despite the apparent upside, investors shouldn’t ignore the risks:

Competition in the U.S. and Germany
Bernstein highlights investor fears about stronger competition in the U.S. and “gloomier” broadband prospects in Germany as a key reason for the 2025 share price weakness. ^[51]
Capex intensity and execution risk
Massive investments in fiber, 5G and AI data centers keep capex high; if revenue growth or pricing disappoint, returns on invested capital could undershoot expectations. ^[52]
Regulation and politics
As a quasi‑infrastructure utility in Europe, Telekom faces ongoing regulatory scrutiny on pricing, access and net neutrality, as well as political pressure to support “digital sovereignty.” ^[53]
Technology risk around AI and 6G
Big bets on AI clouds and early‑stage 6G architectures may not deliver the expected commercial pay‑offs, especially if competitors or hyperscale cloud providers move faster.
Short‑term technical downside
Technical models such as StockInvest’s see a risk of low‑double‑digit percentage downside over the next three months, even if the long‑term thesis stays intact. ^[54]

10. What to watch next (timeline into 2026)

Key upcoming dates and milestones for Deutsche Telekom shareholders:

26 February 2026: Publication of Q4 2025 and full‑year 2025 results, including the formal dividend proposal. ^[55]
1 April 2026:AGM 2026 in Bonn. ^[56]
2 April 2026 (expected): Ex‑dividend date for the €1.00 dividend. ^[57]
2026 onward:
- Start of construction on the Munich industrial AI cloud. ^[58]
- Possible EU‑funded AI Factory with Schwarz Group. ^[59]
- Ongoing share buybacks and any new capital‑allocation guidance. ^[60]

Investors will also closely track updates on fiber take‑up in Germany, T‑Mobile US performance, and any signs of broader telecom sector consolidation that JPMorgan expects for 2026. ^[61]

11. Bottom line: is Deutsche Telekom stock a buy on 2 December 2025?

From a fundamental and consensus perspective, Deutsche Telekom AG checks many boxes:

Solid and growing cash flows with upgraded 2025 guidance. ^[62]
A rising dividend and active buybacks. ^[63]
Strong positions in both European and U.S. telecom markets. ^[64]
A credible long‑term story around AI infrastructure, fiber, 5G and future 6G. ^[65]
Street price targets clustered in the high €30s, implying around 30–35% upside from current levels, with most brokers retaining Buy / Outperform / Overweight ratings. ^[66]

At the same time, short‑term technical models flash caution, and the sector remains capital‑intensive and heavily regulated. ^[67]

For long‑term investors comfortable with telecom and infrastructure risk, today’s price around €27–28 offers exposure to a leading European operator with a growing AI and cloud angle, an attractive and rising dividend, and substantial analyst‑implied upside — but with the usual caveats about competition, regulation, and execution.

For traders, the message from current chart signals is more nuanced: expect sideways or slightly choppy trading near recent lows, with potential for better entry points if the StockInvest downside scenario plays out.

Important: This article is for informational purposes only and does not constitute investment advice. Always do your own research and consider speaking with a qualified financial adviser before making investment decisions.

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