Vodafone shares advanced about 2% to $16.90, near their 52-week high of $17.15, after Goldman Sachs upgraded the stock directly from Sell to Buy and raised its price target to 155 pence from 85 pence. Goldman’s European telecommunications review, led by Andrew Lee, forecasts 14% compound annual growth in sector free cash flow from 2026 through 2030, with shareholder returns reaching 6% in 2027 and 7% in 2028. The bank cited improving return on invested capital, a recovery in the U.K. mobile market and cost reductions at Vodafone. Three Seasons Wealth LLC increased its Vodafone position by 972% in the second quarter, while other institutions also added shares. Broader analyst sentiment remains mixed, with three Buy, four Hold and three Sell ratings and a $10.57 average target.