Vodafone Idea shares have garnered attention after global brokerage firm JP Morgan upgraded the stock to ‘Neutral’ from ‘Underweight.’ The upgrade comes as JP Morgan analysts view the telecom service provider’s capital raise of ₹25,000 crore and the conversion of spectrum dues as positive steps for the company’s future performance.
JP Morgan has revised the target price for Vodafone Idea to ₹10 per share, up from ₹7, suggesting an 8.8% upside from its last closing price of ₹9.19 on the BSE. This target price is for December 2025.
Despite the upgrade, JP Morgan remains cautious, stating, “We are Neutral on Vodafone Idea share as we believe the company is still in the early days of proving the success of its strategy that will begin with capex rollout, followed by arresting subscriber losses before regaining share. We will wait for proof of success in arresting subscriber losses and balance sheet exposures before turning more constructive.”
As of today, Vodafone Idea shares were trading at ₹9.18, down by 1.40%, with a total market capitalization of ₹63,984.43 crore.
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