Citi lifts price target on Vodafone, maintains 'neutral' rating

15th Sep 2026 14:14

(Sharecast News) - Citi lifted its price target on Vodafone on Tuesday to 127p from 110p as it said scope for positive news was stopping it from taking a more cautious stance.

The bank said that while some investors may be inclined to turn cautious following Vodafone's recent share price rally, it remains 'neutral' rather than turning more defensive, as it sees several potential positive factors.

Citi pointed to further investor enthusiasm following Xavier Niel's investment, particularly if he were to increase his stake or seek board representation. The bank also said there is scope for near-term guidance upside, including synergy targets at the upcoming UK briefing and group-wide financial targets at the first-half results.

"There are some offsetting concerns, albeit longer-term in nature, such as our medium-term forecasts remaining below consensus in Germany and at group adjusted EPS, and any German consolidation-related news flow raising questions regarding 1&1 revenue sustainability," Citi said.

At 1412 BST, Vodafone shares were flat at 130.40p.