Stars are aligning! Vodafone Idea share price targets increase after tariff hike

As the much-anticipated telecom tariff hike begins from this week with Reliance Jio belling the cat, analysts say that Vodafone Idea could turn out to be the biggest beneficiary. The retail favourite stock has already rallied around 23% in the last one month and now Citi has upgraded Vodafone Idea from neutral to buy and also increased target price to Rs 23 from Rs 15 saying that the stars are now aligning for the troubled telecom operator.

While retaining high-risk rating, Citi said the target price could rise to Rs 28 in a bull case scenario, contingent on a favourable outcome in the AGR case that could result in a marked reduction in Vodafone Idea’s dues.