Barclays rebuffs market skepticism aimed at Vodafone, naming the company its top pick in telecommunications, replacing Telenor. Barclays says that questions about Vodafone's ability to grow, its performance in monetizing data, and the regulatory headwinds it faces--among others--focus too much on issues past. Barclays estimates that Vodafone is on track for Ebitda compound annual growth rate of 4%-5% in the next three years, saying that the above arguments are increasingly irrelevant. Barclays raises its target price to 280 pence per share and upgrades the rating to overweight. Shares at 1036 GMT are up 0.6%, or 1.45 pence, at 229.30 pence. (oliver.griffin@dowjones.com; @OliGGriffin)

(END) Dow Jones Newswires

December 08, 2017 05:53 ET (10:53 GMT)

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