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Vodafone: UBS says buy on divestment of Hungarian subsidiary

(CercleFinance.com) - UBS reinstates its "buy" rating on Vodafone shares, maintaining a target price at 143 pence, which represents upside potential of 17% for the British telecommunications operator's share price.


In the wake of the group's announcement of an agreement to sell its Hungarian subsidiary, the broker sees this as a potential "opportunistic" sale, but one that " offers a premium valuation multiple". It does not expect the group to change its M&A strategy.


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