(News Bulletin 247) – UBS reaffirms its ‘buy’ recommendation on Vodafone with nevertheless a price target lowered from 115 to 110 pence, a new target which conceals a potential upside of 16% for the title of the mobile telecommunications operator .
With the approach of the publication of the British group under its fourth accounting quarter (scheduled for May 16), the broker warns that ‘trends in Germany may be mixed’.
In the summary of its research note, UBS adds that external growth (M&A) and simplification operations are likely to continue, and that the sustainability of the dividend will depend on Germany.
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