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| 15dBofA raises Vodafone Idea's rating to 'Neutral' on tariff hike prospects
Bank of America Securities has upgraded its rating on Vodafone Idea Ltd to 'Neutral' from 'Underperform,' believing the telecom company has the potential to effectively leverage tariff hikes. The brokerage also raised its price target on Vodafone shares. BofA expects tariff hikes of 20-25% in the near term, higher than its earlier projection of 10-15%, due to factors such as increased willingness of telcos to participate and consumer capacity to absorb the hikes. The brokerage also sees opportunities for telcos to expand high-margin fiber broadband services.
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