Vodafone Group Plc is a telecommunications company. The Company's business is organized into two geographic regions: Europe, and Africa, Middle East and Asia Pacific.
Vodafone’s share price has drifted sideways to lower for the past few years, but all of a sudden, the price has risen almost 25% in 3 months. This follows the first cut of the dividend since 1990 back in May 2019. The most recent update was a positive one with the company stating they are confident in delivering their revised target. They also planned to raise around €20million from the sale of 60,000 mobile masts through a potential IPO of firm TowerCo. This would create Europe’s largest power company.
Best Broker Target Price: 250p (Deutsche Bank 09/08/2019)
Worst Broker Target Price: 140p (Berenberg Bank 19/06/2019)
The share price gapped up through the long-term on the May results. This then led to the completion of a large bottom pattern on the break above resistance at 147.8p. The projected upside move from the bottom pattern comes in at 171.44p. Beyond that there is scope for significantly more upside according to the 250p price target from Deutsche Bank that was published on the 9th August 2019.
Buy between 150-157p