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Vodafone Turns To Profit In H1, Lifts FY18 Earnings View; Stock Up

14 November 2017

BNP Paribas downgraded Vodafone Group Plc (ADR) (NASDAQ:VOD) on Monday, November 21 to "Neutral" rating. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The stock of Vodafone Group Plc (ADR) (NASDAQ:VOD) has "Buy" rating given on Wednesday, August 9 by Bank of America. The firm has "Buy" rating given on Monday, June 12 by Argus Research. On Monday, October 19 the stock rating was upgraded by Macquarie Research to "Outperform". The stock of Vodafone Group Plc (ADR) (NASDAQ:VOD) has "Reduce" rating given on Thursday, June 1 by Standpoint Research. The firm earned "Overweight" rating on Tuesday, December 6 by Barclays Capital. It was reported on Nov, 14 by If the $54.58 price target is reached, the company will be worth $92.50M less.

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About 2.82 million shares traded. The stock of Vodafone Group plc (LON:VOD) earned "Buy" rating by UBS on Tuesday, October 27. It has underperformed by 29.93% the S&P500.

Vodafone Group Plc is a telecommunications company.

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Goldman Sachs now has a GBX 300.00 price target on the 60.72 billion GBP market cap company or 38.89 % upside potential.

In Africa, the Middle East and Asia-Pacific, sales increased 7.1 percent to €5.7 billion thanks to the performance of Vodafone's opcos in Turkey and Egypt in particular. It now has negative earnings.

First-half Group adjusted EBITDA increased 4.2 percent to 7.4 billion euros, with organic growth in Europe and AMAP partly offset by foreign exchange movements and the deconsolidation of Vodafone Netherlands.

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In a double dose of cheer, Vodafone recorded a 1.2 billion euro (£1.1 billion) profit for the six months ending in September, up from a 5 billion euro (£4.5 billion) loss over the period a year ago.

For the first half, profit from continuing operations surged to 1.58 billion euros from 278 million euros in the previous year. Therefore 100% are positive. GBX 241.73's average target is 6.96% above currents GBX 226.01 stock price.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: "Vodafone has posted a strong set of results, despite headwinds from a strong euro, and in a sign of growing confidence, the group has upgraded its profit forecasts for the full year, which has bumped the share price up considerably". The stock has "Neutral" rating by Macquarie Research on Wednesday, November 4. HSBC downgraded Vodafone Group Plc (ADR) (NASDAQ:VOD) on Tuesday, January 17 to "Hold" rating.

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