Shares of Vodafone are rising on Monday, after a report that the telecommunications giant will sell part of its Spanish business to Zegona Communications.
In a research note published by Robert Grindle, Deutsche Bank advises its customers to buy the stock. The target price is reviewed upwards from GBX 155 to GBX 165.
Some investors are dialing up their bets on European telecom companies, but shares struggle to recover previous highs amid a challenging near-term industry outlook due to muted top-line growth, stiff competition and heavy investments.