Is Vodafone Idea a Buy now? Jefferies outlines 3 scenarios with up to 143% upside

Can a stock that has fallen 23% still hold a big surprise? Global investment bank Jefferies has kept a ‘Buy’ rating on Vodafone Idea (Vi). However, it has cut its target price to Rs 16 from Rs 20. That still means a 34% rise from the current market price. The eye-catcher, though, is an upside scenario that points to 143% gain potential from current levels.

Its upside scenario analysis also presents a more optimistic price target of Rs 29 while the downside scenario projects possibility of the price falling to Rs 9.