Goldman upgrades Vodafone to buy, lifts price target to 155p
Goldman upgraded Vodafone to ‘buy’ and raised its price target to 155p from 85p. The bank said Vodafone’s return on invested capital is accelerating on UK mobile market repair and increased cost-cutting.
The bank, which hiked its price target to 155p from 85p, said Vodafone’s return on invested capital is now accelerating, driven by UK mobile market repair and increased cost-cutting."This can drive a re-rating amplified by leverage; our estimates are above consensus for the first time in years," it…