Shares of Vodafone Idea Limited (Vi) have been in the news in recent times. This stock has shown an upward trend in the last three trading days. In the last five days, this stock has gained up to 13%.
today’s performance
On Thursday also, a good rise was seen in the shares of Vodafone Idea.
- The stock reached an intra-day high of ₹8.97 in early trade.
- Today the stock made a strong start with a rise of 3%.
However, brokerage firms have cut the target price of this stock.
Report of brokerage firm UBS
new target price
- UBS, a global brokerage firm, has maintained ‘buy’ rating on Vodafone Idea.
- However, the firm has reduced the target price to ₹13 from earlier ₹19.
- This reduction represents a decline of 32%.
Importance of revised target
- Despite the revised target price, it suggests a potential upside of 50% from Wednesday’s closing price of ₹8.76.
brokerage opinion
- The brokerage believes the residual benefits coming from the tariff hike could offset customer churn (3.5 million).
- Because of this, mobile revenue is expected to grow by 2.8% on a quarter-on-quarter basis.
Analysts’ view
- Among the 22 analysts covering Vodafone Idea:
- 4 analysts have given ‘Buy’ rating.
- 13 analysts have recommended ‘Sell’.
- 5 analysts have given it a ‘Neutral’ rating.
Recent stock performance
- This year: Vodafone Idea shares have registered a gain of 10% so far.
- In one month: The stock rose 10%.
- In the last six months and one year: The stock suffered losses of up to 50%.
- In five years: The stock has given 100% returns.
