- Jefferies downgraded Vodafone Group Plc VOD for the first time in two years, citing the telecom group's vulnerability in tackling rising inflation and headwinds in Germany, Reuters notes.
- Analyst Jerry Dellis noted that Vodafone is facing intense competition in several key markets amid rising costs. He downgraded the company to Hold from Buy.
- Also Read: Vodafone Mulls Merging UK Unit With CK Hutchison's Three
- Vodafone's lean cost base lacks the main inflation safety valves available to an incumbent peer.
- Vodafone will need to spend more to fight off German rivals.
- Price Action: VOD shares traded lower by 0.47% at $14.63 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
