Vodafone: recent strength to continue, Morgan Stanley says
(CercleFinance.com) - Morgan Stanley maintains its "overweight" rating on Vodafone, with a target price of 210 pence, saying that the share price's recent strength is set to continue.
In a note to clients, the broker says valuation of the British mobile phone giant has become "compelling."
"After a challenging 18 months, Vodafone Spain is set for a rebound," Morgan Stanley writes in the note.
"A rumoured Spanish wireline sale could highlight sum-of-parts value and accelerate debt pay-down," it adds.
The Vodafone share is currently up 0.5% at 154.5 pence in London.
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