Vodafone Group shares moved higher in London trading Wednesday, buoyed by ongoing share repurchases and a positive analyst revision. The telecommunications provider's stock climbed 0.7% to 112.30 pence in early session activity.
Buyback Program Accelerates
The company remains active in its substantial share repurchase initiative, having acquired 22.3 million shares on February 10 at an average price of 113.18 pence. This follows the purchase of 23.4 million shares the previous day, bringing the two-day total to approximately 45.7 million shares. Vodafone has now completed €3.5 billion in buybacks and is proceeding with an additional €500 million tranche.
Analyst Confidence Grows
DZ Bank increased its fair value assessment for Vodafone to 130 pence from 120 pence, maintaining a buy recommendation. This adjustment reflects growing confidence in the company's financial trajectory amid its strategic restructuring efforts.
Chief Executive Margherita Della Valle noted that profit and cash flow performance continues to track at the upper end of guidance ranges. The company previously reported third-quarter organic service revenue growth of 5.4%, with adjusted EBITDAaL increasing 2.3%.
Full-year guidance remains unchanged, with adjusted EBITDAaL projected between €11.3 billion and €11.6 billion, and adjusted free cash flow expected in the €2.4 billion to €2.6 billion range.
Despite these positive developments, challenges persist in Vodafone's key German market, which the CEO described as "still competitive." Investors will monitor whether current momentum can be sustained into subsequent quarters.
The company is scheduled to report full-year 2026 results on May 12, with market participants focusing on cash flow metrics, forward guidance, and the pace of capital returns to shareholders.
