Vodafone (NASDAQ:VOD) is up 1.5% premarket in U.S. trading as Morgan Stanley signals a strong fiscal year coming in a note recapping its Overweight rating.
The company should see strong EBITDA and cash growth, though revenue growth will stay muted and the India business may need another injection of €2B-€3B, the firm says. (h/t Bloomberg)
Meanwhile in Europe, the company should be able to fund cable acquisitions via debt and without significant equity issuance.
It's lowered its price target to 270 pence from 280 pence, implying 32% upside.
Now read: Vodafone Is Good To Go »
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