Vodafone: Credit Suisse raises target price.

(CercleFinance.com) - Credit Suisse has raised its target price for the Vodafone stock from 225 pence to 240 pence and is maintaining its "outperform" rating on the share, after the group's fiscal year 2017 results and the de-consolidation of Vodafone India.


In a research note sent to clients, the brokerage firm said it expects Vodafone's investment in network to continue to help defend the mobile business from competition.

In fixed lines, Vodafone is turning its low market share into a virtue, gaining market share in its main European markets, Credit Suisse added.

"As a result Vodafone is outgrowing its peers in Germany, Spain and Italy," the broker writes in the report.

For the new 2018 fiscal year, Credit Suisse expects Ebitda towards the upper end of Vodafone's guidance.

Regarding valuation, the broker says that Vodafone is trading in line with its sector.

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