Vodafone Idea a high-beta turnaround play, says Jefferies; initiates buy with 29% upside potential
Vodafone Idea could offer a high-beta turnaround opportunity, global brokerage Jefferies said while initiating coverage on the telecom operator with a ‘Buy’ rating and a price target of Rs 20 apiece, implying a 28.86% upside from Wednesday’s closing price of Rs 15.52 on the NSE.
The brokerage cited the potential for subscriber stabilisation, operating leverage and tariff-led earnings growth to drive the turnaround.
