(News Bulletin 247) – AlphaValue maintains its buy advice on Vodafone shares, with an unchanged six-month price target of 130 pence.
The analyst indicates that he has revised his EBITDA margin forecast slightly downwards but that the impact on EPS is ‘insignificant’.
In addition, debt has been reduced by 15% year-on-year, thanks to recent disposals.
AlphaValue estimates that the decline in EPS for 2023/25 will be mainly due to restructuring charges linked to Vodafone’s decision to cut 10% of its workforce (or 11,000 jobs) over the next three years.
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