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Vodafone: Credit Suisse reduces target price

(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on Vodafone shares, while reducing its target price for them by 7% to 140p, in the wake of lowered EBITDAaL and FCF estimates (-1.
9% and -3.1% respectively for the telecoms operator's 2022-23 financial year).

The broker says it is updating its expectations for its latest release, in particular considering the poor outlook for Germany:"The operational performance is clearly disappointing and will likely take time to turn around", analysts say.

"But investor sentiment on the stock appears again to be deeply negative, and we believe that a positive development on the portfolio front could be positive", Credit Suisse adds, however.



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