Vodafone Group PLC (LSE:VOD) has received some mixed support from Deutsche Bank, which cut its share price target but reiterated a 'buy' recommendation in a note that revealed the analysts' apparent fondness for children's author Lemony Snicket.
Trimming his target price to 185p from 195p, analyst Robert Grindle said that there is "compelling" underlying value on offer, with the shares last close at 92.50p.
Referencing the book series 'A Series of Unfortunate Events' and film and Netflix series 'Lemony Snicket's Series of Unfortunate Events', Grindle said a "Contra-Lemony [is] well underway" as the shares have enjoyed an 11% bounce in the year to date.
"We see considerably more potential as a series of 'Lemony' events which the company had little control of gradually reverse (global travel, weak EM and energy costs) and as the company takes action on controllable factors such as costs, prices, M&A and operations," the analyst wrote in a note to clients.
"Underlying value is compelling and the company is taking significant steps towards revealing it - though it will take a while for improving business trends to become fully apparent."