Telefónica slumps more than 7% after Lula's victory in Brazil

FinanceInternationalXTB.comOct 26, 2026, 5:03 AM35 s readAI summary

Telefónica shares opened the session down 7.5% after Luiz Inácio Lula da Silva's victory in Brazil and J.P. Morgan's doubts about its debt. The stock fell to 3.13 euros, its lowest since December 2020, with 1.78 million shares traded, five times the average. Brazil accounts for about 31.7% of the group's revenue and 38% of its EBITDA. JPMorgan cut its rating to "underweight" and lowered its price target to 3.20 euros.

In 35 seconds

Telefónica opened down 7.5% and hit 3.13 euros, its lowest level since December 2020
Brazil accounts for about 31.7% of revenue and 38% of the group's EBITDA
JPMorgan downgraded the stock from "neutral" to "underweight" and cut its price target to 3.20 euros

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

Telefónica
Brasil
JPMorgan
mercados
telecomunicaciones

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Telefónica slumps more than 7% after Lula's victory in Brazil

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Bogotá Ciudad Aeropuerto seeks to link El Dorado with the Metro and Regiotram

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