Market Chatter: Vodafone Stock Jumps Close To 52-Wk High on Citi Analyst Report
Vodafone ( VOD ) shares jumped close to a 52-week high on Thursday after a Citi analyst report suggested the mobile telecommunications company may be being eyed by US rival AT&T ( T ), and VOD's Indian business whetting the appetites of Mexico's America Movil ( AMX ).
The stock jumped 2.2%, or $0.81, to $37.13, trading within a 52-week high of $24.42-$37.90.
AT&T may be gearing up to bid for Vodafone next year as the US telecommunications company eyes all of its global assets barring its Indian business, which could fall in the hands of America Movil ( AMX ), various news sources including Barron's and Benzinga reported, citing a note by Citi analyst Simon Weeden.
Citi has a Buy rating on Vodafone, and sees the shares as cheap compared to competitors, even without the acquisition rumors, Barron's said.