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Deutsche Telekom: shares fall after broker cuts target

(CercleFinance.com) - Shares in Deutsche Telekom are currently down 0.
8% at 15.1 euros on Frankfurt's blue chip index DAX, as Jefferies cut its target price in the company from 14.3 euros to 13 euros, while maintaining its "underperform" rating on the stock.

In a research report, Jefferies fears that FTTH investments could be a drag on the share price.

In particular, the brokerage firm points out that the intensifying public debate over Germany's lagging position in fiber-to-the-home (FTTH) technology may subject the telecoms giant to increasing pressures to do more FTTH.

However, Jefferies notes that returns on FTTH are "long-term" and "uncertain."

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