Vodafone: shares up on positive broker note
(CercleFinance.com) - Shares in British phone giant Vodafone rose on Thursday following positive broker comments, with the stock trading up 2.
7% at 151.4 pence just before lunch.
In a note to clients, Morgan Stanley said that it has raised its target price for the share from 210 pence to 250 pence, seeing "many reasons to be positive for 2020."
The broker sees Group EBITDA growth improving from +1% in the first half of the year to +4% in the second half, on top of the telecom company's "impressive" de-leveraging initiatives.
"The top-line has rebounded faster than expected, and will likely continue to do so," Morgan Stanley adds, keeping its "overweight" rating on the share.
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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.
7% at 151.4 pence just before lunch.
In a note to clients, Morgan Stanley said that it has raised its target price for the share from 210 pence to 250 pence, seeing "many reasons to be positive for 2020."
The broker sees Group EBITDA growth improving from +1% in the first half of the year to +4% in the second half, on top of the telecom company's "impressive" de-leveraging initiatives.
"The top-line has rebounded faster than expected, and will likely continue to do so," Morgan Stanley adds, keeping its "overweight" rating on the share.
Copyright (c) 2020 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.