Barclays has reaffirmed its 'overweight' recommendation on Deutsche Telekom, with an adjusted price target of 29 to 29.5 euros, despite the publication last weekend of lower-than-expected quarterly results and forecasts for 2024.

The broker believes that the German telecom operator's strong performance 'remains intact', and expects the group to continue to grow strongly, which in his view 'is not reflected in the share price'.

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