New Street Research - Vodafone Group (VOD LN) Vodafone (Buy, 140p, +100%) H1 25 - Questions still lingering in Germany

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New Street Research

James Ratzer

EUR 9608.00 For Business Accounts Only

Vodafone (Buy, 140p, +100%) H1 25 - Questions still lingering in Germany

Vodafone has reported their H1 results, and although headline numbers were in line with expectations and all guidance has been reiterated.

12/11/2024 1 EN

Underlying

Vodafone Group

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
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Global healthcare thematic research

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Pan European Telecom Services and Cable

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Analysts

James Ratzer

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Vodafone (Buy, 140p, +100%) H1 25 - Questions still lingering in Germany

European Telecoms: The Year Ahead 2025 Ongoing regulatory support allowing for superior FCF growth

Altice International (Equal Weight) Digi (Equal Weight) NOS (Neutral, TP: €3.7, +9%) Vodafone (Buy, TP: £1.4, +96%) One month on: An update on Digi in Portugal. Downgrade Altice International to Equal Weight

Vodafone-Three UK merger approved Our Quick Take

OpenAI: o3 is a game changer - a few steps away from AG. After the $1bn-to-train model, the $1m-inference model.

Airtel Africa (Buy, TP: GBp200, +85%) Second share buyback program

Takeaways from our conversation with VerticalScope (FORA-TO, Not rated)

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