Vodafone: Jefferies raises target price - cites yield.

(CercleFinance.com) - Jefferies maintains its "buy" rating on Vodafone shares, raising its target price on the share from 232 pence to 250 pence.


While the US broker points out that concerns about deteriorating competition are continuing to weigh, it notes that Vodafone's dividend yield is higher than the STOXX Europe 600 Telecommunications index, "far from pricing in perfection."

"We believe a 6.5% dividend yield is too high for a stock that offers a covered dividend and little evidence that dividend growth is imminently threatened," it says.


Copyright (c) 2017 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.