LONDON, June 26, 2026, 13:04 (BST)
- Vodafone traded at 104.85p, just under Thursday’s close, after sliding during the week.
- Median analyst target is just 6.9% above where the shares closed Friday. The spread between the highest and lowest targets is 57.5% of the current share price.
- UK full control puts a £700 million synergy target in play, but Germany continues to drag.
Vodafone Group Public Limited Company (LON:VOD) was changing hands at 104.85 pence as of early afternoon Friday, just below the last close at 104.95p. The day’s range ran from 104.55p to 106.30p. Shares remain up 36.65% from a year ago but dropped 4.46% this week.
Vodafone’s shares have rallied over the past year but came off this week. The company’s market value is around £24.17 billion. The stock trades near the sell-side median target now instead of well under it.
The 12-month median target price is 112.04p, according to Investors Chronicle/LSEG data updated June 23. That’s up 7.19p, or 6.9%, from where the stock closed Friday. Forecasts range from a high of 146.51p to a low of 86.18p, making for a 60.33p spread, or about 57.5% of the current price. On recommendations, there’s one buy, six outperform, seven hold, five sell and a strong sell.
Vodafone’s FY26 base numbers are giving bulls something to work with. The company posted 5.4% organic group service revenue growth and 4.5% organic adjusted EBITDAaL growth. Shareholder returns came to €3.1 billion. Chief Executive Margherita Della Valle said Vodafone is now a “simpler company” with a “stronger growth outlook” after a three-year overhaul. Vodafone
Vodafone is struggling to shake off Germany worries, keeping the stock from getting clean recovery trade status. Barclays (LON:BARC) downgraded Vodafone to equal weight from overweight on June 11 and dropped its price target to 110p from 120p, pointing to persistent problems in Germany. The broker flagged falling German contract mobile ARPU, down to €16.48 in the fourth quarter from €17.08 last year, net contract customer losses of 103,000 in FY26, and a loss of 202,000 fixed broadband customers.
UK remains the counterweight. Vodafone, on May 5, said it will buy out its partner in VodafoneThree for £4.3 billion in cash. That will give Vodafone full control of the country’s biggest mobile operator, following approval under the UK National Security and Investment Act. The deal puts enterprise value at £13.85 billion. Vodafone is going for £700 million a year in cost and capex synergies by FY30. CEO Della Valle said the team has made “remarkable progress” and is already seeing “significant synergies.” Vodafone
The £700 million synergy target comes out to about 2.9% of Vodafone’s equity value at current prices. That’s significant if they deliver. On the other side, the deal would raise pro forma net leverage by 0.4 times. That’s the trade-off investors see today.
Vodafone’s next scheduled announcement is its Q1 FY27 trading update on July 27. The company set its final FY26 dividend at 2.3625 euro cents a share. Sterling and dollar rates for the payment are set for July 23, and payment lands July 30. Investors will see Germany and UK numbers before the dividend gets paid.
