Deutsche Telekom: Oddo remains positive after TMUS deal


Oddo BHF reaffirms its ‘outperformance’ opinion and its target price of 23 euros on Deutsche Telekom, the day after the announcement of a satellite connectivity agreement between T-Mobile US (TMUS), the American subsidiary of the German operator , and SpaceX.

‘Most T-Mobile US mobile subscribers will be able to have satellite connectivity directly from their existing mobile in remote areas not covered by T-Mobile’s network from 2023’, underlines Oddo, which leaves its forecasts unchanged.

While it thinks the product is likely to generate negligible traffic, the consultancy considers the agreement ‘interesting because it confirms that the new ‘LEO’ constellations are also targeting the mobile market directly on existing phones and at the right frequency’.

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