LAWRENCE SUGARMAN LIBERUM CAPITAL
Results were ahead of expectations but these results are unlikely to dramatically change investors views on the stock seeing as there is no news on Verizon or other strategic issues, although the strong earnings were the good news. We retain our “buy” guidance and 210p target price.
SIMON WEEDEN CITIGROUP
These are respectable figures, narrowly beating Vodafone’s consensus for revenue and earnings . As we expected, the £2.1bn VZW dividend will be retained on the balance sheet rather than paid out to investors. We retain our “buy” guidance and 215p target price.
DAVID-A WRIGHT DEUTSCHE BANK
Results were generally in line to a touch ahead of company consensus for the financial year. The focus will now shift to some clarity on the VZW saga (it is time for Vodafone to put some rumours to rest) and how it plans to reverse its uncompetitive stance. We say “hold” with a 216p target.