Vodafone: UBS on hold, lowers TP
(CercleFinance.com) - Vodafone has announced that it posted H1 sales growth of only 1.
6%, due to regulatory difficulties in Germany, which remains its largest market.
Following this announcement, UBS maintains its neutral rating on the stock, but lowers its target price to 70 pence (from 77 pence).
The German recovery is likely to be weaker than expected. Uncertainties weigh on German investment and competitive dynamics, UBS says.
Vodafone has nevertheless confirmed that it is on track to achieve its FY adjusted EBITDAaL target of around E11bn.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
6%, due to regulatory difficulties in Germany, which remains its largest market.
Following this announcement, UBS maintains its neutral rating on the stock, but lowers its target price to 70 pence (from 77 pence).
The German recovery is likely to be weaker than expected. Uncertainties weigh on German investment and competitive dynamics, UBS says.
Vodafone has nevertheless confirmed that it is on track to achieve its FY adjusted EBITDAaL target of around E11bn.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.