Barclays Champions Vodafone in Telecommunications -- Market Talk
08 December 2017 - 10:08PM
Dow Jones News
Barclays rebuffs market skepticism aimed at Vodafone, naming the
company its top pick in telecommunications, replacing Telenor.
Barclays says that questions about Vodafone's ability to grow, its
performance in monetizing data, and the regulatory headwinds it
faces--among others--focus too much on issues past. Barclays
estimates that Vodafone is on track for Ebitda compound annual
growth rate of 4%-5% in the next three years, saying that the above
arguments are increasingly irrelevant. Barclays raises its target
price to 280 pence per share and upgrades the rating to overweight.
Shares at 1036 GMT are up 0.6%, or 1.45 pence, at 229.30 pence.
(oliver.griffin@dowjones.com; @OliGGriffin)
(END) Dow Jones Newswires
December 08, 2017 05:53 ET (10:53 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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