Vodafone: recent strength to continue, Morgan Stanley says
(CercleFinance.com) - Morgan Stanley maintains its "overweight" rating on Vodafone, with a target price of 210 pence, saying that the share price's recent strength is set to continue.
In a note to clients, the broker says valuation of the British mobile phone giant has become "compelling."
"After a challenging 18 months, Vodafone Spain is set for a rebound," Morgan Stanley writes in the note.
"A rumoured Spanish wireline sale could highlight sum-of-parts value and accelerate debt pay-down," it adds.
The Vodafone share is currently up 0.5% at 154.5 pence in London.
Copyright (c) 2019 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.
In a note to clients, the broker says valuation of the British mobile phone giant has become "compelling."
"After a challenging 18 months, Vodafone Spain is set for a rebound," Morgan Stanley writes in the note.
"A rumoured Spanish wireline sale could highlight sum-of-parts value and accelerate debt pay-down," it adds.
The Vodafone share is currently up 0.5% at 154.5 pence in London.
Copyright (c) 2019 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.