Vodafone and BT get boost

Vodafone and BT Group saw their shares surge yesterday after a broker upgrade. They also saw exceptionally high volumes, after getting a boost from a note on the telecoms sector from Morgan Stanley in which they were upgraded. The broker said: “Telecoms is our preferred defensive sector. It offers greater potential for a positive growth surprise as well as offering a substantial dividend yield boost over other sectors.” Both firms were upgraded to “overweight” with price targets of 225p for Vodafone and 260p for BT. Vodafone closed yesterday 1.76 per cent up at 181.85p. BT closed up 3.97 per cent at 191.1p.