Vodafone (Buy, 140p, +100%) Post call thoughts: What is needed to hit EBITDA guidance

Vodafone’s H1 earnings call recently wrapped up with the stock having sold off during and after the call. We review our thoughts on this and in this note show some further analysis on what would be required to meet the FY EBITDA guidance based on the new comments given in the call.

Altice International (Over weight) Digi (Equal weight) NOS (Neutral, TP: €3.7, +10%) Vodafone (Buy, TP: £1.4, +94%) One week on: How is Digi doing in Portugal? Can FWA solve for a lack of fixed infrastructure?

Digi launched in Portugal, one week ago – read our take HERE. In this report we look at how the launch has been received in Portugal (including a run-through of tariff changes by the incumbents).

MTN (Buy, TP: ZAR130, +57%) Q3 24: Solid, SR growth back on track with MT guidance

MTN has reported a solid set of Q3 results with service revenue and EBITDA trends accelerating and service revenue trending back in line with the MT guidance.

Cisco 1FQ25: Order growth accelerating, momentum on multiple fronts. Buy, $64 TP

Trump Nominates “Khanservative” to become Attorney General

Yesterday, President-elect Trump announced that he would appoint Congressman Matt Gaetz to be the next Attorney General. In this policy brief we discuss the implications of that appointment for Antitrust policy.