Bucking a recent downward trend, Vodafone (LON: VOD) shares gained around 5% this week. This positive movement comes with help from Deutsche Bank resuming coverage of the telecom giant with a Buy rating.
While the stock was already making its way higher on Monday and Tuesday, the analyst research note from Deutsche Bank provided a boost, resulting in a 1.4% increase in Vodafone shares.
The bank, which assigned Vodafone a 140p price target, told investors that Vodafone shares have “recovered somewhat” and “are cheap.”
Empfohlener Broker
Multi Asset Platform
Vodafone shares are flat over the last 12 months, having gained 5.3% in 2024. However, it currently trades at 72.28p, a far cry from the over 200p per share price last seen in 2018.
Deutsche Bank believes that while there is a headwind in Vodafone’s German business, it is well known, and a UK deal or asset monetizations should help ahead of trend improvement.
Vodafone has been working to divest assets in order to strengthen its financial health. This week it confirmed it had sold 484.7 million shares in Indus Towers Limited, representing an 18% stake, through an accelerated book-build offering.
In May, Vodafone completed the sale of Vodafone Spain to Zegona Communications for €4.1 billion in cash and €0.9 billion in the form of redeemable preference shares.
Searching for the Perfect Broker?
Discover our top-recommended brokers for trading or investing in financial markets. Dive in and test their capabilities with complimentary demo accounts today!
- IG Top-tier regulation – Read our Review
- eToro Wide range of instruments available to trade – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
