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Vodafone: BarCap upgrades rating.

(CercleFinance.com) - Barclays Capital (BarCap) has upgraded its rating on the Vodafone stock from "weight in line" to "overweight," and has increased its target price from 230 pence to 280 pence, making the stock its "top pick" in the telecom sector, replacing Telenor.

The broker points out that the mobile operator's share offers a dividend yield of 6% for 2018, although many still question its sustainability, and not just its growth potential.

However, BarCap has raised its estimates for the UK group, highlighting an average annual growth of 4%-5% in EBITDA over the next three years, coupled with a positive revenue/cost momentum.

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