Vodafone raises UK savings target as Berenberg lifts Vodafone stock target

Published on 10/13/2026 at 01:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg lifted its target from GBp 123 to GBp 140 on October 2, 2026. For Vodafone stock this means GBP 1.0 billion in savings.

Key points in brief

Vodafone raised VodafoneThree's annual savings target to GBP 1.0 billion by fiscal 2032 from GBP 0.7 billion by fiscal 2030.
Berenberg lifted its Vodafone target from GBp 123 to GBp 140 on October 2, 2026, while maintaining a Buy rating.
Vodafone's Q1 fiscal 2027 organic service revenue rose 5.20 percent and adjusted EBITDAaL increased 6.20 percent.
H1 fiscal 2027 results are scheduled for November 10, 2026.

Isometrische 3D-Grafik der Netzwerkkette von Satellit über Funkmast bis Smartphone — Vodafone Group plc (ISIN GB00BH4HKS39) verbindet Satellit, Funkmast und Rechenzentrum, dargestellt in dieser isometrischen 3D-Illustration, Illustration mit AI erstellt.

Vodafone (ISIN GB00BH4HKS39) raised VodafoneThree's annual cost-savings target to GBP 1.0 billion by fiscal 2032 from GBP 0.7 billion by fiscal 2030 on October 8, 2026, according to Vodafone. Berenberg also lifted its target for Vodafone stock from GBp 123 to GBp 140 on October 2, 2026, while maintaining a Buy rating, as Yahoo Finance reported.

Three milestones shape the story

On May 12, 2026, Vodafone reported fiscal 2026 revenue of EUR 40.5 billion, up 8.00 percent from fiscal 2025, according to Simply Wall St. On July 27, 2026, Vodafone's Q1 fiscal 2027 organic service revenue increased 5.20 percent and organic adjusted EBITDAaL rose 6.20 percent, according to Vodafone. On October 8, 2026, the VodafoneThree briefing added a target for operating free cash flow to more than triple by fiscal 2032 versus fiscal 2025, according to the company briefing.

What does the target mean for cash flow?

The GBP 1.0 billion savings goal is paired with mid-to-high single-digit annual adjusted EBITDAaL growth from fiscal 2025 through fiscal 2032. Vodafone also outlined a GBP 11.0 billion, 10-year investment plan for a next-generation 5G standalone network, creating a demanding trade-off between network spending and cash generation. Morningstar reported on October 8, 2026, that the group expects VodafoneThree to become a driver of double-digit organic growth in adjusted free cash flow.

Next reporting date is November 10

Vodafone's investor-relations calendar lists H1 fiscal 2027 results for November 10, 2026, providing the next scheduled test of service revenue growth, adjusted EBITDAaL and cash-flow execution. The October targets are forward-looking measures rather than a profit forecast, and the company states that savings and synergies may arrive later or differ from its targets. The further course of trading is shown by the continuously updated real-time quote of Vodafone stock.