London, Jan 7, 2026, 09:55 GMT — Regular session
- Vodafone shares up about 2.8% in morning London trade, near a 52-week high
- Berenberg upgrades to “buy” and lifts target price to 120p from 80p
- Investors eye ongoing buyback and the Feb. 5 Q3 trading update
Vodafone Group PLC VOD.L shares rose on Wednesday after Berenberg analyst Paul Sidney upgraded the telecoms group to “buy” from “neutral” and raised his price target to 120 pence from 80 pence. The stock was up 2.8% at 103.3 pence by 0955 GMT, close to the top of its 52-week range after touching 103.6 pence. Investing.com
The call lands with Vodafone already trading near a one-year high, leaving investors focused on what supports the next leg higher. Sidney’s new target sits about 16% above Wednesday’s levels, a larger-than-usual gap for a mature telecom where cash returns and execution drive sentiment.
Vodafone said it bought 10,587,537 ordinary shares on Tuesday at a volume-weighted average price of 101.00 pence, with trades ranging from 100.20 pence to 101.85 pence. The group said it “intends to hold the purchased shares in treasury” — meaning the stock is held by the company rather than circulating in the market.
But the broker tape is not one-way. UBS analyst Polo Tang reiterated a sell rating on Jan. 5 and kept an 80 pence target, implying about 23% downside from current levels.
The stock-specific move came against a quieter broader backdrop, with European shares steady after a run of record closes as investors weighed U.S.-Venezuela developments and looked ahead to fresh economic data.
Investors now look to Vodafone’s next scheduled milestones: a third-quarter trading update on Feb. 5 and full-year results on May 12, according to its financial calendar. Traders will watch for updates on operating trends and cash generation that underpin buybacks and shareholder returns.
