Berenberg Bank Reiterates a Hold Rating on Vodafone Group Public Limited (VOD)

Vodafone Group Public Limited Company (NASDAQ:VOD) is one of the best affordable stocks to buy under $20. Paul Sidney, Berenberg Bank analyst, reiterated a Hold rating on Vodafone Group Public Limited Company (NASDAQ:VOD) on October 20, setting a price target of £0.82.

Why Vodafone Group Public Limited Company (VOD) Skyrocketed Today

In other developments, Vodafone Group Public Limited Company (NASDAQ:VOD) reported on October 16 the successful acquisition of a total of 100 MHz of spectrum in the 5G auction conducted by the Information and Communication Technologies Authority (ICTA), costing $627 million (€539 million) in total.

Management reported that the acquired spectrum comprises “2 x 10 MHz in the 700MHz band and 80 MHz in the 3.5GHz band and will be used by Vodafone Türkiye to drive the country’s digital transformation”.

5G services are anticipated to be launched during 2026, and the spectrum will be available from April 2026. According to Vodafone Group Public Limited Company (NASDAQ:VOD), it has a license duration of almost 17 years, expiring on 31 December 2042.

The company further reported that the payments will be phased over three financial years: the initial instalment of $209 million (€180 million) is due in January 2026, while the two further equal payments of $209 million (€180 million) each are due in December 2026 and May 2027, respectively.

Vodafone Group Public Limited Company (NASDAQ:VOD) is involved in telecommunications services in Europe and internationally, offering mobile services that allow customers to text, call, and more.

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Disclosure: None. This article is originally published at Insider Monkey.