Citi says Vodafone not yet ‘out of the woods’, stays at neutral

by | Jul 27, 2023

(Sharecast News) – Analysts at Citi reiterated their ‘neutral’ recommendation on shares of Vodafone, labelling the telecoms operator’s first quarter results as “decent”.
Nonetheless, the company was not yet “out of the woods”, they said.

According to the analysts, the Key Performance Indicators for the group were pointing in the wrong direction.

Furthermore, in Germany the effects of Nebenkostenprivileg would begin to be felt by the end of the fiscal year and into FY2025.

“Although 1Q and 2Q improvements may be cheered more due to low expectations rather than underlying improvement, it is likely to be enough to further support the shares,” they said in a research report sent to clients.

Indeed, risks around the 2025 fiscal year remained, they added.

Related articles

RBC Capital cuts Rentokil price target

RBC Capital cuts Rentokil price target

(Sharecast News) - RBC Capital Markets cut its price target on Rentokil Initial on Wednesday to 575p from 610p as it downgraded forecasts for forex and a greater back-end loading of TMX synergies, but said it believes the long-term story remains intact. The bank said...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!