Investing.com -- French telecoms group Orange could raise its guidance as its domestic market shows signs of early repair, BofA Global Research said in a preview of third-quarter results for seven European telecoms companies it rates “buy.”

Orange reports on Oct. 27. BofA raised its 2026 revenue and EBITDAaL forecasts by 0.1% and 0.3% on more constructive competition in France.

It expects Q3 revenue 1% above consensus, EBITDAaL in line and weaker cash generation on more balanced capex phasing in the second half. Management called the improvement in French mobile promotions fragile. ORA’s price objective is €19.2; shares are at €13.735.

Telecoms operator Telia reports on Oct. 22. BofA trimmed 2026 free cash flow estimates by 2.6% on higher cash interest.

It is 1.1% below consensus on adjusted EBITDA as competitive pressure builds in the Nordics, but in line on service revenue. Its price objective is SEK 50; shares are at SEK 43.21.

KPN reports on Oct. 28. BofA expects service revenue growth above 2% year on year, helped by business customers and mobile growth above 4%. Fixed-line trading could weaken as VodafoneZiggo keeps up its commercial push.

Reported EBITDA should dip slightly because last year’s IPR settlement benefit and a one-off labour payment are absent. BofA sees Q3 free cash flow 27.5% below consensus as working capital weighs before unwinding in Q4; the full year is in line. Its price objective is €5.3; shares are at €3.88.

BT reports second-quarter results on Nov. 5. Brand-refresh costs and the PSTN voice transition weigh on the consumer arm. Brand costs should not continue materially into the second half, and a move to variable content costs should cut operating costs by low tens of millions of pounds, per BT.

More guidance could come on TalkTalk, including the £400 million acquisition cost, if the competition regulator’s review is complete. Its price objective is 282p; shares are at 194.7p.

Tower operator Cellnex reports on Nov. 5, with the date to be confirmed. Revenue should stay resilient on colocation and BTS growth despite concerns over maturing BTS programmes. Free cash flow should keep improving through the second half as BTS capex falls. BofA is slightly below consensus. Its price objective is €35.5; shares are at €24.6.

Deutsche Telekom reports on Nov. 5. BofA raised its 2026 revenue and EBITDAaL forecasts by 1.0% each on currency gains from a stronger dollar against the euro.

It is above consensus on higher TMUS estimates, with Q3 revenue of €30.98 billion versus €30.47 billion. German Q3 EBITDAaL growth is guided below the recent 2.5%-2.7% range before moving above it in Q4. Concerns over US operations weigh. Its price objective is €36; shares are at €24.98.

Tower operator Helios Towers reports on Nov. 5. Rising mobile operator investment and a record tenancy pipeline support upgraded 2026 guidance of 3,500 to 4,000 additions. More than 700 builds are still needed in the second half, so quarterly timing could be lumpy.

BofA is slightly ahead of consensus on Q3 revenue and EBITDA on stronger tenancy additions. Its price objective is 309p; shares are at 221.6p.

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