Vodafone Idea share price target: Shares jump 12% after UBS double upgrades telecom stock to buy

Vodafone Idea share price target, Vodafone Idea share price NSE: Vodafone Idea shares rose on D-Street on Friday, May 24 after the telecom operator stock got a double upgrade to buy from neutral by global brokerage UBS. Continuing the gains for the second session, Vodafone Idea gained nearly 12 per cent to the day's high of Rs 15.7 on NSE. The counter closed at Rs 15.1, up 7.47 per cent on NSE.

Vodafone Idea share price target: Is it the right time to buy? 

UBS raised the Vodafone Idea share price target to Rs 18 from Rs 13.1. The revised target implies an upside potential of 28 per cent from the previous close.  

The global brokerage highlighted the following key points in its note: 

• Focus on relief of government dues
• Vodafone Idea  is most leveraged to any government relief
• The stock is trading at a similar 11x FY26 EV/EBITDA as Bharti Airtel and Jio
• Running scenarios on relief on govt dues; the potential upside of 70-80% for Vodafone Idea 

Vodafone Idea Q4 results: How did VIL fare in the March quarter?

Vodafone Idea posted a widening of losses to Rs 7,675 crore in the March quarter amid rise in interest and financing cost. Vodafone Idea's consolidated revenue of operations remained almost flat about Rs 10,607 crore during the reported quarter.

For the year ended March 31, 2024, Vodafone Idea (VIL) posted widening of loss to Rs 31,238.4 crore from Rs 29,301.1 crore a year ago. The annual revenue from operations was marginally higher by 1.1 per cent to Rs 42,651.7 crore from Rs 42,177.2 crore in 2022-23. Read more 

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