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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 04:48 EDT
Jefferies analyst Jeremy Dellis upgraded Vodafone to Buy from Hold with a 176 GBp price target, up from GBp 144. Organic growth and monetization of its tower assets can drive higher returns, Dellis tells investors in a research note. Vodafone could reach a 7% return on invested capital by fiscal 2023, from 5.1% for fiscal 2020, through recoveries in Spain and Italy, improved metrics in the U.K. and by the cost savings, contends the analyst.