Vodafone Downgraded to “Underperform” at Zacks (VOD)
Vodafone (NYSE:VOD) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, Analyst Ratings News reports. They currently have a $35.00 price objective on the stock. Zacks‘ target price indicates a potential downside of 9.86% from the company’s current price.
Zacks‘ analyst wrote, “We downgrade our recommendation on Vodafone to Underperform. Declines in service revenues and subscriber count, specifically in the European markets continue to hurt the company’s financial performance. We believe the company is facing top-line pressure from its transition to data from voice & text in Europe. While this shift bodes well for the long term, it poses a significant near-term spending burden on network platform upgrade and promotional activities. Further, downward changes in the Zacks Consensus Estimate for the fiscal 2014 earnings also render a cautious outlook on the company’s near-term performance. “
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Vodafone in a research note to investors on Thursday. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Vodafone in a research note to investors on Thursday, January 9th. Finally, analysts at Berenberg Bank reiterated a “buy” rating on shares of Vodafone in a research note to investors on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $88.33.
Shares of Vodafone (NYSE:VOD) traded up 1.39% during mid-day trading on Friday, hitting $39.37. 7,062,470 shares of the company’s stock traded hands. Vodafone has a one year low of $24.42 and a one year high of $39.44. The stock’s 50-day moving average is $38.13 and its 200-day moving average is $34.33. The company has a market cap of $191.3 billion and a P/E ratio of 5.83.
Vodafone Group Plc (NYSE:VOD) is a mobile communications company operating across the globe providing a range of communications services.
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