Overview
Vodafone Group Public Limited Company, headquartered in the United Kingdom, is a major player within the telecommunications industry. Globally recognized, Vodafone offers a wide range of services including voice, messaging, data, and fixed communications. The company is known for its strategic focus on both mobile and fixed networks, aiming to drive growth through a substantial investment in digital infrastructure and technological advancements. Key projects include the ongoing rollout of 5G technology across multiple regions, enhancing broadband accessibility, and various digital transformation initiatives that aim to enrich customer experience and expand service capabilities. These ventures are part of Vodafone's ambitious strategy to improve connectivity and embrace innovative tech solutions across its international markets.
Basic Stats
The share price of Vodafone Group Public Limited Company - Depositary Receipt (Common Stock) as of September 5, 2025 is $11.81 / share. This is a decrease of -1.25% from the prior week.
The Factor Analysis chart (below right) shows a view of Vodafone Group Public Limited Company - Depositary Receipt (Common Stock) from a variety of lenses. Each factor shows how well the company ranks against all other companies in the Fintel global investing universe. Factor scores range from zero to 100, with 100 being most desirable, and 50 being average.
For example, a company with a Value Score of 100 would be the most undervalued company in our database. A company with a Value Score of zero would be the most overvalued.
| Market Cap | |
| EV | |
| Shares Out. | 25,580.00 MM |
| Earnings Date | |
| EPS (TTM) | -0.16 |
| Dividend Yield | 10.36 % |
| Ex-Dividend Date | 2025-06-06 |
| Borrow Rate | 0.25 |
| Short Shares Avail. | 6.30 MM |
| Short Interest | 13.21 MM |
| Short Float | |
| Days to Cover | 2.92 days |
| Risk Free Rate | 4.17 % |
| Price Change (1 yr) | 15.90 % |
| Volatility (1 yr) | 0.27 |
| Beta | 0.51 |
| Sharpe Ratio (1 yr) | 0.43 |
| Sortino Ratio (1 yr) | 0.68 |
| PE Ratio | |
| Price/Book | |
| Price/TBV | |
| Book/Market | |
| EBIT/EV | |
| EBIT(3yr avg)/EV | |
| ROA | -0.03 |
| ROE | -0.07 |
| ROIC | -0.04 |
| CROIC | 0.04 |
| OCROIC | 0.14 |
| Implied Volatility | 18.35 % |
| Put/Call OI Ratio | 0.39 |
Factor Scores range from 0 to 100, with 100 being most desirable. Larger circles are better. In situations where we have no data (e.g. no insider trades), we plot the score at 50 to avoid penalizing companies. However, a company that does not pay dividends will get a Dividend Score of Zero. Additionally, we inverted volatility to create a "stability" metric which is better when higher.
Price Target
The average one-year price target for Vodafone Group Public Limited Company - Depositary Receipt (Common Stock) is $11.57. The forecasts range from a low of $8.16 to a high of $19.08. A stock’s price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings. Analysts typically set price targets that correspond to their buy or sell recommendations.
Update Frequency: Monthly
Stock Upgrades/Downgrades
This card shows analyst upgrades/downgrades for Vodafone Group Public Limited Company - Depositary Receipt (Common Stock). An analyst rating is a classification that gives investors a sense of analyst sentiment about the direction and performance of an equity - usually a stock - over a period of time, typically 12 months.
The standard analyst ratings are generally as follows:
- Buy/Overweight/Outperform - Any of these ratings conveys an analyst’s belief that the stock is likely to outperform a market index (e.g. the S&P 500).
- Hold/Equal-Weight/Market Perform - Any of these ratings conveys an analyst’s belief that the stock is likely to perform in line with a market index.
- Sell/Underweight/Underperform - Any of these ratings suggest that an analyst believes the stock is likely to underperform a market index.
When an analyst upgrades a stock, they are signaling that the company’s fundamentals are being undervalued by investors. It could also mean they believe the market is underestimating the company’s potential. The opposite is true when a stock receives a downgrade.
The average rating of each individual analyst’s rating is the consensus rating for a stock. This gives investors a broader sense of the overall sentiment for that stock.
| Date | Analyst | Prior | Latest Recommendation |
Action |
|---|---|---|---|---|
| 2023-05-30 | Berenberg Bank | Hold | Reiterate | |
| 2023-05-30 | Citigroup | Neutral | Reiterate | |
| 2023-05-17 | Barclays | Equal Weight | Reiterate | |
| 2023-04-04 | Citigroup | Neutral | Reiterate | |
| 2023-03-24 | Deutsche | Buy | Reiterate | |
| 2023-02-14 | Numis | Buy | Reiterate | |
| 2023-02-14 | Deutsche | Buy | Initiate | |
| 2023-02-02 | Credit Suisse | Underperform | Reiterate | |
| 2023-02-02 | Barclays | Equal Weight | Reiterate | |
| 2023-02-02 | JP Morgan Cazenove | Neutral | Reiterate | |
| 2023-02-01 | Numis | Buy | Reiterate | |
| 2023-01-20 | Barclays | Equal Weight | Reiterate | |
| 2023-01-05 | Barclays | Equal Weight | Reiterate | |
| 2022-11-18 | Barclays | Equal Weight | Reiterate | |
| 2022-11-10 | Deutsche | Buy | Reiterate | |
| 2022-10-18 | Barclays | Overweight | Reiterate | |
| 2022-10-10 | Berenberg Bank | Hold | Reiterate | |
| 2022-10-06 | JP Morgan Cazenove | Neutral | Reiterate | |
| 2022-10-04 | Barclays | Equal Weight | Reiterate | |
| 2022-09-26 | Barclays | Overweight | Reiterate | |
| 2022-09-22 | Deutsche | Buy | Reiterate | |
| 2023-06-08 | Barclays | Equal Weight | Reiterate | |
| 2024-07-12 | Citigroup | Neutral | Reiterate | |
| 2024-05-15 | Barclays | Equal Weight | Reiterate | |
| 2024-03-20 | Citigroup | Neutral | Reiterate | |
| 2023-12-20 | Barclays | Equal Weight | Reiterate | |
| 2023-11-29 | Barclays | Equal Weight | Reiterate | |
| 2023-11-21 | Citigroup | Neutral | Reiterate | |
| 2023-11-06 | Barclays | Equal Weight | Reiterate | |
| 2023-10-05 | Citigroup | Neutral | Reiterate | |
| 2022-07-26 | Deutsche | Buy | Reiterate | |
| 2022-07-26 | Barclays | Equal Weight | Reiterate | |
| 2022-07-26 | JP Morgan Cazenove | Neutral | Reiterate | |
| 2022-07-18 | JP Morgan Cazenove | Neutral | Reiterate | |
| 2022-07-08 | Berenberg Bank | Hold | Reiterate | |
| 2022-07-06 | Deutsche | Buy | Reiterate | |
| 2022-06-29 | JP Morgan Cazenove | Neutral | Reiterate | |
| 2022-05-31 | Berenberg Bank | Hold | Reiterate | |
| 2022-05-27 | Deutsche | Buy | Reiterate | |
| 2022-05-18 | Deutsche | Buy | Reiterate | |
| 2022-05-18 | Barclays | Overweight | Reiterate | |
| 2022-05-18 | Citigroup | Buy | Reiterate | |
| 2022-05-11 | Morgan Stanley | Overweight | Reiterate | |
| 2022-05-04 | Barclays | Overweight | Reiterate | |
| 2022-04-26 | Morgan Stanley | Overweight | Reiterate | |
| 2022-04-14 | Morgan Stanley | Overweight | Reiterate | |
| 2022-04-04 | Berenberg Bank | Hold | Reiterate | |
| 2022-04-01 | Barclays | Overweight | Reiterate | |
| 2022-04-01 | Deutsche | Buy | Reiterate | |
| 2022-03-25 | Morgan Stanley | Overweight | Reiterate | |
| 2022-03-23 | Berenberg Bank | Buy | Reiterate | |
| 2022-03-18 | Barclays | Overweight | Reiterate | |
| 2022-03-09 | Barclays | Overweight | Reiterate | |
| 2022-02-09 | Morgan Stanley | Reiteration | Reiterate | |
| 2022-02-08 | Citigroup | Reiteration | Reiterate | |
| 2022-02-07 | Barclays | Reiteration | Reiterate | |
| 2022-02-03 | JP Morgan Cazenove | Reiteration | Reiterate | |
| 2022-02-03 | Deutsche | Reiteration | Reiterate | |
| 2022-01-28 | Morgan Stanley | Reiteration | Reiterate | |
| 2022-01-25 | Deutsche | Reiteration | Reiterate | |
| 2022-01-10 | Berenberg Bank | Reiteration | Reiterate | |
| 2021-12-15 | Morgan Stanley | Reiteration | Reiterate | |
| 2021-11-17 | Deutsche | Reiteration | Reiterate | |
| 2021-11-17 | Deutsche Bank | Buy | Reiterate | |
| 2021-11-17 | Barclays | Reiteration | Reiterate | |
| 2021-11-12 | Morgan Stanley | Overweight | Reiterate | |
| 2021-10-18 | Deutsche Bank | Buy | Reiterate | |
| 2021-10-14 | Berenberg Bank | Buy | Reiterate | |
| 2021-08-03 | Berenberg Bank | Buy | Reiterate | |
| 2021-07-26 | Barclays | Overweight | Reiterate | |
| 2021-07-01 | JP Morgan Cazenove | Reiteration | Reiterate | |
| 2021-06-21 | Credit Suisse | Outperform | Reiterate | |
| 2021-06-18 | Berenberg Bank | Buy | Reiterate | |
| 2021-05-25 | Citigroup | Buy | Reiterate | |
| 2021-05-19 | Deutsche Bank | Buy | Reiterate | |
| 2021-05-19 | Credit Suisse | Outperform | Reiterate | |
| 2021-05-18 | UBS | Buy | Reiterate | |
| 2021-05-17 | Numis | Buy | Reiterate | |
| 2021-05-11 | Goldman Sachs | Buy | Reiterate | |
| 2021-05-07 | Deutsche Bank | Buy | Reiterate | |
| 2021-04-23 | Berenberg Bank | Buy | Reiterate | |
| 2021-03-18 | Numis | Buy | Reiterate | |
| 2021-02-09 | Citigroup | Buy | Reiterate | |
| 2021-01-18 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2020-11-12 | Shore Capital | Buy | Reiterate | |
| 2020-09-28 | Credit Suisse | Outperform | Reiterate | |
| 2020-07-27 | Deutsche Bank | Buy | Reiterate | |
| 2020-06-22 | Bank of America | Buy | Reiterate | |
| 2020-05-14 | Citigroup | Buy | Reiterate | |
| 2020-05-13 | CFRA | Buy | Maintains | |
| 2020-02-07 | CFRA | Strong Buy | Buy | Downgrade |
| 2020-02-04 | Barclays | Overweight | Reiterate | |
| 2020-01-16 | Morgan Stanley | Top Pick | Reiterate | |
| 2020-01-16 | Barclays | Overweight | Reiterate | |
| 2020-01-14 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2020-01-07 | Citigroup | Buy | Reiterate | |
| 2019-11-18 | Berenberg Bank | Buy | Reiterate | |
| 2019-11-13 | Barclays | Overweight | Reiterate | |
| 2019-11-12 | UBS | Buy | Reiterate | |
| 2019-11-12 | Jefferies | Hold | Reiterate | |
| 2019-11-07 | Citigroup | Buy | Reiterate | |
| 2019-10-08 | Berenberg Bank | Buy | Reiterate | |
| 2019-10-08 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2019-10-08 | UBS | Buy | Reiterate | |
| 2019-09-12 | Deutsche Bank | Buy | Reiterate | |
| 2019-09-11 | Berenberg Bank | Buy | Reiterate | |
| 2019-09-11 | UBS | Buy | Reiterate | |
| 2019-09-06 | Morgan Stanley | Overweight | Reiterate | |
| 2019-08-30 | Berenberg Bank | Buy | Reiterate | |
| 2019-08-09 | Deutsche Bank | Buy | Reiterate | |
| 2019-07-04 | Barclays | Overweight | Reiterate | |
| 2019-06-24 | Deutsche Bank | Buy | Reiterate | |
| 2019-06-19 | Berenberg Bank | Buy | Reiterate | |
| 2019-05-24 | HSBC | Hold | Buy | Upgrade |
| 2019-05-15 | Deutsche Bank | Buy | Reiterate | |
| 2019-05-15 | Barclays | Overweight | Reiterate | |
| 2019-05-13 | Berenberg Bank | Buy | Reiterate | |
| 2019-05-13 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2019-05-07 | Citigroup | Buy | Reiterate | |
| 2019-05-02 | Numis | Buy | Reiterate | |
| 2019-04-09 | Deutsche Bank | Buy | Reiterate | |
| 2019-03-20 | Macquarie | Neutral | Outperform | Upgrade |
| 2019-03-08 | Exane BNP Paribas | Outperform | Neutral | Downgrade |
| 2019-02-25 | Numis | Buy | Reiterate | |
| 2019-02-22 | Citigroup | Buy | Reiterate | |
| 2019-02-22 | Deutsche Bank | Buy | Reiterate | |
| 2019-02-06 | Bank of America | Neutral | Buy | Upgrade |
| 2019-02-04 | Citigroup | Buy | Reiterate | |
| 2019-01-25 | RBC Capital Markets | Underperform | Reiterate | |
| 2019-01-09 | Macquarie | Underperform | Reiterate | |
| 2018-12-18 | Deutsche Bank | Buy | Reiterate | |
| 2018-12-17 | Barclays | Overweight | Reiterate | |
| 2018-11-22 | Berenberg Bank | Buy | Reiterate | |
| 2018-11-13 | CFRA | Buy | Strong Buy | Upgrade |
| 2018-11-09 | Macquarie | Underperform | Reiterate | |
| 2018-11-07 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2018-10-09 | Raymond James | Strong Buy | Market Perform | Downgrade |
| 2018-10-08 | Jefferies | Buy | Hold | Downgrade |
| 2018-10-04 | Barclays | Overweight | Reiterate | |
| 2018-09-11 | Standpoint Research | Reduce | Buy | Upgrade |
| 2018-09-06 | Citigroup | Neutral | Buy | Upgrade |
| 2018-09-05 | Bernstein | Market Perform | Outperform | Upgrade |
| 2018-08-30 | Bank of America | Buy | Neutral | Downgrade |
| 2018-07-12 | Kepler Capital Markets | Reduce | Initiate | |
| 2018-06-18 | Deutsche Bank | Buy | Reiterate | |
| 2018-06-13 | Argus | Buy | Buy | Maintains |
| 2018-06-11 | Credit Suisse | Outperform | Reiterate | |
| 2018-05-17 | Citigroup | Buy | Neutral | Downgrade |
| 2018-05-15 | UBS | Buy | Reiterate | |
| 2018-05-10 | Deutsche Bank | Buy | Reiterate | |
| 2018-05-10 | Barclays | Overweight | Reiterate | |
| 2018-05-09 | Numis | Buy | Reiterate | |
| 2018-04-04 | Citigroup | Neutral | Buy | Upgrade |
| 2017-12-08 | Barclays | Equal-Weight | Overweight | Upgrade |
| 2017-11-28 | Credit Suisse | Outperform | Reiterate | |
| 2017-11-16 | Barclays | Equal-weight | Reiterate | |
| 2017-11-14 | Deutsche Bank | Buy | Reiterate | |
| 2017-11-13 | Goldman Sachs | Buy | Reiterate | |
| 2017-11-10 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2017-10-18 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2017-10-13 | Credit Suisse | Outperform | Reiterate | |
| 2017-09-15 | Goldman Sachs | Buy | Reiterate | |
| 2017-09-11 | Jefferies | Buy | Reiterate | |
| 2017-09-11 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2017-08-24 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2017-08-09 | Bank of America | Neutral | Buy | Upgrade |
| 2017-08-07 | Credit Suisse | Outperform | Reiterate | |
| 2017-07-26 | Morgan Stanley | Overweight | Reiterate | |
| 2017-07-25 | HSBC | Hold | Reiterate | |
| 2017-07-24 | Goldman Sachs | Buy | Reiterate | |
| 2017-07-24 | Barclays | Equal-weight | Reiterate | |
| 2017-07-12 | Deutsche Bank | Hold | Reiterate | |
| 2017-06-30 | Citigroup | Neutral | Reiterate | |
| 2017-06-29 | Goldman Sachs | Buy | Reiterate | |
| 2017-06-12 | Deutsche Bank | Buy | Reiterate | |
| 2017-06-12 | Berenberg Bank | Buy | Reiterate | |
| 2017-06-12 | Argus | Hold | Buy | Upgrade |
| 2017-06-01 | Standpoint Research | Accumulate | Reduce | Downgrade |
| 2017-05-18 | Exane BNP Paribas | Neutral | Reiterate | |
| 2017-05-17 | Macquarie | Underperform | Reiterate | |
| 2017-05-17 | Deutsche Bank | Buy | Reiterate | |
| 2017-05-17 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2017-05-17 | Goldman Sachs | Buy | Reiterate | |
| 2017-04-28 | Deutsche Bank | Buy | Reiterate | |
| 2017-04-25 | Goldman Sachs | Buy | Reiterate | |
| 2017-04-12 | HSBC | Hold | Reiterate | |
| 2017-04-11 | Credit Suisse | Outperform | Reiterate | |
| 2017-03-24 | Goldman Sachs | Buy | Reiterate | |
| 2017-03-21 | Macquarie | Underperform | Reiterate | |
| 2017-03-21 | HSBC | Hold | Reiterate | |
| 2017-02-21 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2017-02-20 | HSBC | Hold | Reiterate | |
| 2017-02-03 | Credit Suisse | Outperform | Reiterate | |
| 2017-02-03 | UBS | Buy | Reiterate | |
| 2017-02-03 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2017-02-03 | Deutsche Bank | Buy | Reiterate | |
| 2017-01-31 | Exane BNP Paribas | Neutral | Reiterate | |
| 2017-01-31 | Jefferies | Buy | Reiterate | |
| 2017-01-30 | Macquarie | Neutral | Reiterate | |
| 2017-01-25 | Bank of America | Buy | Neutral | Downgrade |
| 2017-01-16 | Berenberg Bank | Buy | Reiterate | |
| 2017-01-10 | Goldman Sachs | Neutral | Buy | Upgrade |
| 2017-01-09 | UBS | Buy | Reiterate | |
| 2017-01-06 | Barclays | Overweight | Reiterate | |
| 2017-01-03 | Standpoint Research | Accumulate | Initiate | |
| 2016-12-15 | Deutsche Bank | Buy | Reiterate | |
| 2016-11-23 | Macquarie | Neutral | Reiterate | |
| 2016-11-23 | Deutsche Bank | Buy | Reiterate | |
| 2016-11-16 | Credit Suisse | Outperform | Reiterate | |
| 2016-11-16 | HSBC | Buy | Reiterate | |
| 2016-11-16 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2016-11-16 | Citigroup | Neutral | Reiterate | |
| 2016-11-15 | Deutsche Bank | Buy | Reiterate | |
| 2016-10-17 | Jefferies | Buy | Reiterate | |
| 2016-10-14 | UBS | Buy | Reiterate | |
| 2016-10-13 | Credit Suisse | Outperform | Reiterate | |
| 2016-10-12 | Goldman Sachs | Neutral | Reiterate | |
| 2016-10-10 | Societe Generale | Sell | Reiterate | |
| 2016-10-07 | HSBC | Buy | Reiterate | |
| 2016-09-30 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2016-09-30 | Jefferies | Buy | Reiterate | |
| 2016-09-28 | Exane BNP Paribas | Outperform | Reiterate | |
| 2016-09-27 | HSBC | Buy | Reiterate | |
| 2016-09-20 | Argus | Hold | Initiate | |
| 2016-09-20 | Argus Research | Hold | Initiate | |
| 2016-09-16 | Barclays | Overweight | Reiterate | |
| 2016-09-02 | UBS | Buy | Reiterate | |
| 2016-08-17 | Jefferies | Buy | Reiterate | |
| 2016-08-10 | Credit Suisse | Outperform | Reiterate | |
| 2016-08-10 | Berenberg Bank | Buy | Reiterate | |
| 2016-07-20 | Deutsche Bank | Buy | Reiterate | |
| 2016-07-13 | Credit Suisse | Outperform | Reiterate | |
| 2016-07-12 | Citigroup | Buy | Neutral | Downgrade |
| 2016-06-30 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2016-06-13 | Macquarie | Outperform | Neutral | Downgrade |
| 2016-06-02 | Berenberg Bank | Buy | Reiterate | |
| 2016-05-18 | HSBC | Buy | Reiterate | |
| 2016-05-18 | Barclays | Overweight | Reiterate | |
| 2016-05-18 | UBS | Buy | Reiterate | |
| 2016-05-18 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2016-04-28 | HSBC | Buy | Reiterate | |
| 2016-04-25 | Credit Suisse | Outperform | Reiterate | |
| 2016-04-25 | UBS | Buy | Reiterate | |
| 2016-04-25 | Citigroup | Buy | Reiterate | |
| 2016-04-20 | Bank of America | Neutral | Buy | Upgrade |
| 2016-04-19 | HSBC | Buy | Reiterate | |
| 2016-04-18 | Exane BNP Paribas | Outperform | Reiterate | |
| 2016-04-01 | HSBC | Buy | Reiterate | |
| 2016-03-23 | HSBC | Buy | Reiterate | |
| 2016-03-17 | Credit Suisse | Outperform | Reiterate | |
| 2016-03-09 | HSBC | Buy | Reiterate | |
| 2016-02-24 | Morgan Stanley | Overweight | Reiterate | |
| 2016-02-17 | HSBC | Buy | Reiterate | |
| 2016-02-17 | UBS | Buy | Reiterate | |
| 2016-02-17 | RBC Capital Markets | Outperform | Reiterate | |
| 2016-02-05 | HSBC | Buy | Reiterate | |
| 2016-02-05 | Nomura | Buy | Reiterate | |
| 2016-02-05 | Barclays | Overweight | Reiterate | |
| 2016-02-03 | UBS | Buy | Reiterate | |
| 2016-02-01 | Morgan Stanley | Overweight | Reiterate | |
| 2016-02-01 | Deutsche Bank | Buy | Reiterate | |
| 2016-01-28 | HSBC | Buy | Reiterate | |
| 2016-01-26 | Barclays | Overweight | Reiterate | |
| 2016-01-26 | Jefferies | Hold | Buy | Upgrade |
| 2016-01-21 | Goldman Sachs | Neutral | Reiterate | |
| 2016-01-19 | RBC Capital Markets | Outperform | Reiterate | |
| 2016-01-15 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2016-01-07 | UBS | Buy | Reiterate | |
| 2015-12-01 | Nomura | Buy | Reiterate | |
| 2015-11-25 | UBS | Buy | Reiterate | |
| 2015-11-24 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2015-11-16 | UBS | Buy | Reiterate | |
| 2015-11-12 | Citigroup | Buy | Reiterate | |
| 2015-11-11 | RBC Capital Markets | Outperform | Reiterate | |
| 2015-11-11 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2015-11-11 | Nomura | Buy | Reiterate | |
| 2015-11-10 | Charles Stanley | Accumulate | Reiterate | |
| 2015-11-10 | Societe Generale | Sell | Reiterate | |
| 2015-11-06 | UBS | Buy | Reiterate | |
| 2015-11-06 | Deutsche Bank | Buy | Reiterate | |
| 2015-11-06 | Goldman Sachs | Neutral | Reiterate | |
| 2015-11-06 | Macquarie | Outperform | Reiterate | |
| 2015-11-04 | Macquarie | Outperform | Reiterate | |
| 2015-10-29 | Deutsche Bank | Buy | Reiterate | |
| 2015-10-27 | UBS | Buy | Reiterate | |
| 2015-10-19 | Credit Suisse | Outperform | Reiterate | |
| 2015-10-19 | Macquarie | Neutral | Outperform | Upgrade |
| 2015-10-16 | Nomura | Buy | Reiterate | |
| 2015-10-14 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2015-10-13 | Deutsche Bank | Buy | Reiterate | |
| 2015-10-07 | Nomura | Outperform | Reiterate | |
| 2015-10-02 | UBS | Buy | Reiterate | |
| 2015-09-15 | Goldman Sachs | Neutral | Reiterate | |
| 2015-09-15 | Exane BNP Paribas | Outperform | Reiterate | |
| 2015-09-07 | Nomura | Buy | Reiterate | |
| 2015-08-12 | Credit Suisse | Outperform | Reiterate | |
| 2015-07-28 | Credit Suisse | Outperform | Reiterate | |
| 2015-07-27 | Nomura | Buy | Reiterate | |
| 2015-07-27 | RBC Capital Markets | Neutral | Reiterate | |
| 2015-07-27 | Citigroup | Buy | Reiterate | |
| 2015-07-16 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2015-07-16 | Credit Suisse | Outperform | Reiterate | |
| 2015-07-15 | Goldman Sachs | Buy | Neutral | Downgrade |
| 2015-07-10 | Jefferies | Hold | Reiterate | |
| 2015-07-06 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2015-06-23 | Nomura | Neutral | Buy | Upgrade |
| 2015-06-08 | UBS | Buy | Reiterate | |
| 2015-06-08 | Bank of America | Underperform | Neutral | Upgrade |
| 2015-05-29 | RBC Capital Markets | Hold | Reiterate | |
| 2015-05-29 | Jefferies | Hold | Reiterate | |
| 2015-05-28 | Credit Suisse | Outperform | Reiterate | |
| 2015-05-26 | Berenberg Bank | Buy | Reiterate | |
| 2015-05-21 | Citigroup | Buy | Reiterate | |
| 2015-05-21 | Nomura | Reduce | Neutral | Upgrade |
| 2015-05-20 | Charles Stanley | Accumulate | Reiterate | |
| 2015-05-20 | Nomura | Reduce | Reiterate | |
| 2015-05-20 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2015-05-20 | Deutsche Bank | Buy | Reiterate | |
| 2015-05-20 | UBS | Buy | Reiterate | |
| 2015-05-19 | Morgan Stanley | Overweight | Reiterate | |
| 2015-05-18 | Credit Agricole | Outperform | Reiterate | |
| 2015-05-15 | Barclays | Overweight | Reiterate | |
| 2015-05-06 | Deutsche Bank | Buy | Reiterate | |
| 2015-05-06 | Jefferies | Hold | Reiterate | |
| 2015-04-21 | Credit Suisse | Outperform | Reiterate | |
| 2015-04-16 | RBC Capital Markets | Neutral | Reiterate | |
| 2015-04-10 | Barclays | Overweight | Reiterate | |
| 2015-04-01 | Credit Suisse | Outperform | Reiterate | |
| 2015-03-19 | Goldman Sachs | Buy | Reiterate | |
| 2015-03-16 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2015-03-10 | Citigroup | Buy | Reiterate | |
| 2015-03-06 | Nomura | Reduce | Reiterate | |
| 2015-02-24 | Bank of America | Neutral | Underperform | Downgrade |
| 2015-02-12 | Credit Suisse | Outperform | Reiterate | |
| 2015-02-02 | Berenberg Bank | Hold | Reiterate | |
| 2015-01-23 | Deutsche Bank | Buy | Reiterate | |
| 2015-01-14 | Beaufort Securities | Buy | Reiterate | |
| 2014-12-19 | Deutsche Bank | Buy | Reiterate | |
| 2014-12-11 | Societe Generale | Sell | Reiterate | |
| 2014-12-05 | Jefferies | Hold | Reiterate | |
| 2014-12-03 | Nomura | Reduce | Reiterate | |
| 2014-12-02 | Espirito Santo Securities | Sell | Reiterate | |
| 2014-12-01 | Credit Suisse | Outperform | Reiterate | |
| 2014-12-01 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2014-12-01 | Citigroup | Buy | Reiterate | |
| 2014-11-26 | Deutsche Bank | Buy | Reiterate | |
| 2014-11-24 | Exane BNP Paribas | Neutral | Reiterate | |
| 2014-11-19 | Credit Suisse | Outperform | Reiterate | |
| 2014-11-18 | Citigroup | Buy | Reiterate | |
| 2014-11-14 | UBS | Buy | Reiterate | |
| 2014-11-14 | Barclays | Overweight | Reiterate | |
| 2014-11-12 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2014-11-12 | Deutsche Bank | Buy | Reiterate | |
| 2014-11-12 | Nomura | Reduce | Reiterate | |
| 2014-11-06 | Espirito Santo Securities | Sell | Reiterate | |
| 2014-11-05 | UBS | Buy | Reiterate | |
| 2014-10-27 | Jefferies | Hold | Reiterate | |
| 2014-10-20 | Espirito Santo Securities | Sell | Reiterate | |
| 2014-10-17 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2014-10-14 | Deutsche Bank | Buy | Initiate | |
| 2014-10-10 | Credit Suisse | Outperform | Reiterate | |
| 2014-10-09 | Espirito Santo Securities | Sell | Reiterate | |
| 2014-09-29 | Goldman Sachs | Neutral | Reiterate | |
| 2014-08-21 | Credit Suisse | Outperform | Reiterate | |
| 2014-08-11 | Berenberg Bank | Hold | Reiterate | |
| 2014-08-04 | Redburn Partners | Neutral | Buy | Upgrade |
| 2014-07-28 | Berenberg Bank | Hold | Reiterate | |
| 2014-07-28 | Credit Suisse | Outperform | Reiterate | |
| 2014-07-25 | Espirito Santo Securities | Sell | Reiterate | |
| 2014-07-22 | Nomura | Neutral | Reiterate | |
| 2014-07-21 | Jefferies | Hold | Reiterate | |
| 2014-07-21 | Nomura | Neutral | Reiterate | |
| 2014-07-21 | Goldman Sachs | Neutral | Reiterate | |
| 2014-07-18 | Berenberg Bank | Hold | Reiterate | |
| 2014-07-11 | Espirito Santo | Neutral | Sell | Downgrade |
| 2014-06-25 | Macquarie | Neutral | Outperform | Upgrade |
| 2014-06-18 | Goldman Sachs | Neutral | Reiterate | |
| 2014-06-17 | Citigroup | Buy | Reiterate | |
| 2014-06-11 | Espirito Santo Securities | Neutral | Reiterate | |
| 2014-06-06 | Credit Suisse | Outperform | Reiterate | |
| 2014-06-06 | Jefferies | Hold | Reiterate | |
| 2014-06-02 | UBS | Buy | Reiterate | |
| 2014-05-29 | Berenberg Bank | Hold | Reiterate | |
| 2014-05-28 | Goldman Sachs | Neutral | Reiterate | |
| 2014-05-28 | Nomura | Neutral | Reiterate | |
| 2014-05-28 | Berenberg | Buy | Hold | Downgrade |
| 2014-05-27 | Berenberg Bank | Buy | Reiterate | |
| 2014-05-23 | Espirito Santo Securities | Neutral | Reiterate | |
| 2014-05-21 | Barclays | Overweight | Reiterate | |
| 2014-05-20 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2014-05-15 | UBS | Buy | Reiterate | |
| 2014-04-22 | Credit Suisse | Outperform | Reiterate | |
| 2014-04-22 | Nomura | Neutral | Reiterate | |
| 2014-04-14 | Berenberg Bank | Buy | Reiterate | |
| 2014-04-08 | Espirito Santo Securities | Neutral | Reiterate | |
| 2014-04-08 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2014-04-04 | Nomura | Buy | Neutral | Downgrade |
| 2014-03-27 | Deutsche Bank | Buy | Reiterate | |
| 2014-03-25 | JP Morgan Cazenove | Overweight | Initiate | |
| 2014-03-18 | UBS | Buy | Reiterate | |
| 2014-03-18 | Oriel | Hold | Reduce | Downgrade |
| 2014-03-17 | Jefferies | Hold | Reiterate | |
| 2014-03-17 | Espirito Santo Securities | Neutral | Reiterate | |
| 2014-03-13 | Barclays | Overweight | Reiterate | |
| 2014-03-06 | Deutsche Bank | Buy | Reiterate | |
| 2014-02-28 | Espirito Santo | Trading Sell | Neutral | Upgrade |
| 2014-02-26 | Barclays | Overweight | Reiterate | |
| 2014-02-24 | Deutsche Bank | Buy | Reiterate | |
| 2014-02-20 | Citigroup | Buy | Reiterate | |
| 2014-02-19 | Bank of America | Buy | Reiterate | |
| 2014-02-19 | Nomura | Buy | Reiterate | |
| 2014-02-17 | Deutsche Bank | Buy | Reiterate | |
| 2014-02-17 | Jefferies | Hold | Reiterate | |
| 2014-02-14 | UBS | Buy | Reiterate | |
| 2014-02-14 | Espirito Santo Securities | Sell | Reiterate | |
| 2014-02-14 | Societe Generale | Sell | Reiterate | |
| 2014-02-12 | Credit Suisse | Outperform | Reiterate | |
| 2014-02-10 | Goldman Sachs | Buy | Initiate | |
| 2014-02-07 | Deutsche Bank | Buy | Reiterate | |
| 2014-02-07 | Citigroup | Buy | Reiterate | |
| 2014-02-06 | Jefferies | Hold | Reiterate | |
| 2014-02-05 | Societe Generale | Sell | Reiterate | |
| 2014-02-04 | Credit Suisse | Outperform | Reiterate | |
| 2014-01-30 | UBS | Buy | Reiterate | |
| 2014-01-28 | Deutsche Bank | Buy | Reiterate | |
| 2014-01-27 | Credit Suisse | Outperform | Reiterate | |
| 2014-01-22 | UBS | Buy | Reiterate | |
| 2014-01-22 | Espirito Santo | Neutral | Trading Sell | Downgrade |
| 2014-01-16 | Citigroup | Buy | Reiterate | |
| 2013-12-20 | Berenberg Bank | Buy | Reiterate | |
| 2013-12-06 | Berenberg | Hold | Buy | Upgrade |
| 2013-12-06 | Exane BNP Paribas | Underperform | Neutral | Upgrade |
| 2013-12-05 | Berenberg Bank | Hold | Reiterate | |
| 2013-12-05 | Deutsche Bank | Buy | Reiterate | |
| 2013-12-04 | Numis Securities | Buy | Reiterate | |
| 2013-12-04 | UBS | Buy | Reiterate | |
| 2013-12-03 | Credit Suisse | Outperform | Reiterate | |
| 2013-12-02 | Nomura | Buy | Reiterate | |
| 2013-11-22 | Deutsche Bank | Buy | Reiterate | |
| 2013-11-18 | Credit Suisse | Outperform | Reiterate | |
| 2013-11-15 | Nomura | Buy | Reiterate | |
| 2013-11-13 | Deutsche Bank | Buy | Reiterate | |
| 2013-11-12 | Espirito Santo Securities | Neutral | Reiterate | |
| 2013-11-12 | Jefferies | Hold | Reiterate | |
| 2013-11-07 | UBS | Buy | Reiterate | |
| 2013-11-06 | Bernstein | Market Perform | Maintains | |
| 2013-10-31 | Deutsche Bank | Buy | Reiterate | |
| 2013-10-29 | Nomura | Buy | Reiterate | |
| 2013-10-23 | Credit Suisse | Outperform | Reiterate | |
| 2013-10-22 | Bank of America | Buy | Reiterate | |
| 2013-10-17 | Macquarie | Neutral | Reiterate | |
| 2013-10-10 | UBS | Buy | Reiterate | |
| 2013-10-01 | Espirito Santo Securities | Neutral | Reiterate | |
| 2013-09-30 | Citigroup | Buy | Reiterate | |
| 2013-09-24 | Nomura | Buy | Reiterate | |
| 2013-09-23 | UBS | Buy | Reiterate | |
| 2013-09-19 | Charles Stanley | Accumulate | Reiterate | |
| 2013-09-16 | Citigroup | Buy | Reiterate | |
| 2013-09-06 | Societe Generale | Sell | Reiterate | |
| 2013-09-05 | Deutsche Bank | Buy | Reiterate | |
| 2013-09-03 | Evolution Securities | Underperform | Reiterate | |
| 2013-09-03 | Nomura | Buy | Reiterate | |
| 2013-09-03 | HSBC | Overweight | Reiterate | |
| 2013-09-03 | Bernstein | Underperform | Market Perform | Upgrade |
| 2013-09-03 | Oriel | Buy | Hold | Downgrade |
| 2013-09-03 | Macquarie | Outperform | Neutral | Downgrade |
| 2013-09-02 | Jefferies | Hold | Reiterate | |
| 2013-08-30 | Exane BNP Paribas | Underperform | Reiterate | |
| 2013-08-30 | Deutsche Bank | Buy | Reiterate | |
| 2013-08-30 | Citigroup | Buy | Reiterate | |
| 2013-08-30 | Baird | Outperform | Neutral | Downgrade |
| 2013-08-23 | UBS | Buy | Reiterate | |
| 2013-08-12 | UBS | Buy | Reiterate | |
| 2013-08-07 | Raymond James | Outperform | Initiate | |
| 2013-08-06 | Morgan Stanley | Overweight | Reiterate | |
| 2013-08-02 | Espirito Santo | Buy | Neutral | Downgrade |
| 2013-07-30 | Citigroup | Buy | Reiterate | |
| 2013-07-24 | Espirito Santo Securities | Buy | Reiterate | |
| 2013-07-16 | Societe Generale | Sell | Reiterate | |
| 2013-07-12 | Deutsche Bank | Buy | Reiterate | |
| 2013-07-11 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2013-07-09 | Bank of America | Buy | Reiterate | |
| 2013-07-08 | Credit Suisse | Outperform | Reiterate | |
| 2013-07-02 | Morgan Stanley | Overweight | Reiterate | |
| 2013-06-28 | Bank of America | Buy | Reiterate | |
| 2013-06-28 | Deutsche Bank | Hold | Buy | Upgrade |
| 2013-06-25 | JP Morgan Cazenove | Overweight | Reiterate | |
| 2013-06-25 | Citigroup | Buy | Reiterate | |
| 2013-06-25 | Exane BNP Paribas | Underperform | Reiterate | |
| 2013-06-25 | Nomura | Neutral | Buy | Upgrade |
| 2013-06-24 | Jefferies | Hold | Reiterate | |
| 2013-06-24 | Nomura | Neutral | Buy | Upgrade |
| 2013-06-20 | Deutsche Bank | Hold | Reiterate | |
| 2013-06-19 | Berenberg Bank | Hold | Reiterate | |
| 2013-06-18 | UBS | Buy | Reiterate | |
| 2013-03-18 | Citigroup | Neutral | Buy | Upgrade |
| 2013-03-14 | Santander | Buy | Hold | Downgrade |
| 2013-02-19 | Bernstein | Market Perform | Underperform | Downgrade |
| 2013-02-08 | Bank of America | Neutral | Buy | Upgrade |
| 2013-02-04 | Citigroup | Buy | Neutral | Downgrade |
| 2012-08-15 | Bank of America | Buy | Neutral | Downgrade |
| 2025-02-18 | Citigroup | Neutral | Reiterate | |
| 2025-06-25 | Berenberg Bank | Hold | Reiterate | |
| 2025-04-23 | JP Morgan | Neutral | Underweight | Downgrade |
