Vodafone Group Plc (ADR)(NASDAQ:VOD) is marginally higher in reaction to an article in Barron’s which sees 20% upside in the price of the stock due to its business prospects in Europe and potential for a sale to AT&T (NYSE:T).
After selling its 45% stake in Verizon (NYSE:VZ), Vodafone distributed most of the proceeds from the sale to VOD shareholders who received a 0.26 share in Verizon and $4.93 in cash per VOD share. The company then completed a 6 for 11 stock split.
Since then, AT&T denied talk of a VOD offer, but the telecommunications giant has expressed interest in European assets. Currently, VOD is the largest wireless operator in Europe.
VOD last traded at $36.08 with a 52-week range of $35.77 to $72.55.
Analysts have a consensus price target of GBX 232.88 on Vodafone Group Plc (ADR)(NASDAQ:VOD). The consensus rating of the stock is a HOLD with a score of 2.30. There are currently 15 Hold Ratings, 4 sell ratings and 14 Buy ratings on the stock.
The most recent analyst action consisted of Sanford Bernstein Reiterating their Market Perform rating of the stock, maintaining a price target of GBX 311.48.
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