Telefónica Stock Forecast

Stock Price Forecast

According to 22 analysts polled by S&P Global, Telefónica stock has a consensus rating of "Hold" and an average price target of €4.00. The average 1-year stock price forecast is 8.31% higher than the current stock price, while the lowest is €3.00 (-18.77%) and the highest is €5.00 (+35.39%).

Price Target: €4.00 (+8.31%)

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	€3.00	€4.00	€4.00	€5.00
Change	-18.77%	+8.31%	+8.31%	+35.39%

Analyst Ratings

The average analyst rating for Telefónica stock is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Jan '26	Feb '26	Mar '26	Apr '26	May '26	Jun '26
Strong Buy	2	2	2	2	2	2
Buy	1	1	1	1	1	1
Hold	13	13	13	13	13	13
Sell	2	2	2	2	2	2
Strong Sell	4	4	4	3	3	3
Total	22	22	22	21	21	21

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Mathieu Robilliard Barclays	Barclays	Hold Reiterates €4.00	Hold	Reiterates	€4.00	+8.31%	Jun 2, 2026
Andrew Lee Goldman Sachs	Goldman Sachs	Buy Reiterates €4.70	Buy	Reiterates	€4.70	+27.27%	May 29, 2026
Javier Borrachero Kepler Capital	Kepler Capital	Hold Maintains €3.90 → €4.00	Hold	Maintains	€3.90 → €4.00	+8.31%	Apr 29, 2026
Carl Murdock Smith Citi	Citi	Hold Maintains €3.70 → €4.00	Hold	Maintains	€3.70 → €4.00	+8.31%	Apr 27, 2026
Keval Khiroya Deutsche Bank	Deutsche Bank	Sell Maintains €3.30 → €3.20	Sell	Maintains	€3.30 → €3.20	-13.35%	Mar 17, 2026

More Analyst Ratings

Financial Forecast

Revenue This Year

33.54B

from 35.95B

-6.68%

from 35.95B

Revenue Next Year

34.11B

from 33.54B

1.69%

from 33.54B

EPS This Year

0.34

from 0.33

4.48%

from 0.33

EPS Next Year

0.39

from 0.34

13.99%

from 0.34

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	39.28B	40.78B	41.46B	36.44B	35.95B	33.54B
Revenue Growth	-10.63%	3.82%	1.67%	-12.10%	-1.36%	-6.68%
Gross Profit	20.29B	22.31B	21.04B	19.65B	16.27B	22.64B
Gross Margin	51.65%	54.72%	50.75%	53.92%	45.26%	67.50%
Operating Income	2.30B	3.32B	2.35B	4.69B	1.53B	4.77B
Net Income	8.14B	2.01B	-892.00M	-49.00M	-4.32B	2.09B
EPS	-	-	-	-	0.33	0.34
EPS Growth	-	-	-	-	-8.33%	4.48%
Forward PE	9.62	10.56	10.99	12.72	10.78	10.71
Dividend / Share	0.30	0.30	0.30	0.30	0.30	0.15
Dividend Growth	-	-	-	-	-	-50.00%
Free Cash Flow	12.24B	2.79B	5.02B	3.67B	1.62B	3.15B
No. Analysts	-	-	-	-	-	11

EPS and Forward PE are based on non-GAAP adjusted numbers. Financial currency is EUR.

Revenue Forecast

Revenue	2026	2027	2028
High	34.2B
Avg	33.5B
Low	33.0B

Revenue Growth

Revenue Growth	2026	2027	2028
High	-4.9%
Avg	-6.7%
Low	-8.3%

EPS Forecast

EPS	2026	2027	2028
High	0.36
Avg	0.34
Low	0.32

EPS Growth

EPS Growth	2026	2027	2028
High	9.1%
Avg	4.5%
Low	-3.0%