Shares of Vodafone Idea are likely to remain in focus on Thursday after global brokerage Jefferies initiated coverage on the telecom operator with a ‘Buy’ rating and a price target of Rs 20 per share. The target implies a 29% upside from current market levels.
Jefferies sees Vodafone Idea as a high-beta turnaround opportunity, with subscriber stabilisation, operating leverage and tariff-led earnings growth expected to support the recovery. The brokerage forecasts an 11% revenue CAGR over FY26-29 as subscriber trends stabilise, while cash EBITDA is expected to grow at a 25% CAGR over FY26-31.
