- Shares of Vodafone Idea rose 5% in early trade on August 12
- Citi maintained a 'buy' rating and target price of Rs 17 on Vodafone Idea
- Strong Q1FY27 results led to Citi's bullish view on the telecom stock
Shares of Vodafone Idea jumped 5% in early trade on Wednesday, Aug. 12, as global brokerage Citi maintained a bullish view on the telecom stock over strong April-June quarter results of current fiscal (Q1FY27). Analysts at Citi have maintained a 'buy' rating on Vodafone Idea with a target price of Rs 17 after the leading telecom major's operating metrics beat Q1 estimates.
The stock opened at Rs 12.93 against a previous close of Rs 12.89 and extended gains by upto 5% to hit an intraday high of Rs 13.69 apiece on the NSE. The stock last traded 4.81% higher at Rs 13.51 apiece on the NSE. This compares to a drop of 0.41% in the Nifty 50 benchmark. The stock has risen 5% in one week, but has shed all gains over a month. The stock is up 16.21% on a year-to-date basis and 108% in the last one year. The company commands a market cap of Rs 1,45,938.07 crore.
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Vodafone Idea Share Price Intraday
Citi bullish on Vodafone Idea: Should You Buy?
Citi has reaffirmed its confidence in telecom operator Vodafone Idea, maintaining a "Buy" rating on the stock with a target price of Rs 17 per share. This comes on the heels of the telecom major's first-quarter performance for the financial year 2027 (Q1FY27), where it delivered a notable operating beat. In its latest research note, Citi highlighted that the long-standing funding overhang that has historically pressured the debt-ridden telecom is finally beginning to ease.
This financial relief has significantly improved visibility for the company's capital expenditure (capex) plans. Analysts at the firm anticipate an accelerated pace of capex over the next few quarters as the company moves to upgrade and expand its infrastructure. With these primary funding constraints gradually subsiding, Citi noted that the market's attention will now shift squarely toward on-the-ground execution. Moving forward, the key focus for Vodafone Idea will be the pace and efficiency of its network rollout as it strengthens its operational footprint in the highly competitive telecom sector.
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