JPMorgan deepens pressure on Telefónica on the Ibex

FinanceInternationalExpansiónOct 26, 2026, 4:16 AM30 s readAI summary

Telefónica faced two bearish pressures before the open: Lula da Silva's victory in Brazil's runoff election and a double downgrade from JPMorgan. The bank drops its neutral rating and moves to underweight, cutting its price target by 13%, from 3.70 to 3.20 euros per share. The shares fell as much as 8% and dropped to around 3.10 euros at intraday lows.

In 30 seconds

JPMorgan drops its neutral rating on Telefónica and moves to underweight
The price target is cut 13%, from 3.70 to 3.20 euros per share
Lula's victory in Brazil forces investors to unwind positions built on the first-round result

Read the full story at Expansión

IASummary generated by artificial intelligence from a story by Expansión. It may contain errors: the original source prevails.

Telefónica
JPMorgan
Ibex
Brasil
mercados

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JPMorgan deepens pressure on Telefónica on the Ibex

In 30 seconds

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Keep reading

IMF backs economic rescue bill as Banco de la República calls for rigor in its review

Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA

President requests urgent congressional passage of fiscal adjustment bill

Oil edges lower after U.S. bombs Iran ahead of Election Day