Stock to buy: After eroding 55% of investor wealth in 2024, Vodafone Idea could rise 64%, suggests Citi’s target price
Stock to buy: While Vodafone Idea shares wiped off nearly 50 per cent of investor wealth in 2024, it did not deter global brokerage Citi from upgrading the stock. Citi has upgraded the telecom stock to ‘buy’ with a target price of ₹13, implying an upside potential of 64 per cent from its last closing price.
The move comes after the Department of Telecommunications approved a significant bank guarantee waiver for spectrum payments, offering a much-needed lifeline to the debt-laden telecom operator.
Bank Guarantee Waiver: A Game-Changer for Vodafone Idea?
The government has approved the waiver of bank guarantees for spectrum acquired in auctions held between 2012 and 2021, a decision Citi described as a “major relief” for Vodafone…
