Andrew Lee Reiterates Buy Rating on Improved Core-Market Momentum, Stronger Spain Performance, and Solid Cash Flow Supporting 2026 Guidance
Tip Ranks·- Goldman Sachs analyst Andrew Lee maintains a buy rating for Telefónica with a target price of €4.50, offering a 55% discount on TipRanks. - The rationale for the rating includes better-than-expected first-quarter performance and significant growth momentum in core markets, particularly in Spain, which is experiencing strong revenue and EBITDA growth due to successful strategies. - Improved free cash flow, phased capital expenditures, and reaffirmed guidance for 2026 and beyond enhance confidence in the company's ability to meet targets, allowing room for potential EBITDA adjustments.