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The Economic Times
The Economic Times
Business
Kumar Gaurav

Vodafone Idea a high-beta turnaround play, says Jefferies; initiates buy with 29% upside potential

Vodafone Idea could offer a high-beta turnaround opportunity, global brokerage Jefferies said while initiating coverage on the telecom operator with a ‘Buy’ rating and a price target of Rs 20 apiece, implying a 28.86% upside from Wednesday’s closing price of Rs 15.52 on the NSE.

The brokerage cited the potential for subscriber stabilisation, operating leverage and tariff-led earnings growth to drive the turnaround.

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