Jefferies Downgrades Vodafone For First Time In 2 Years
- Jefferies downgraded Vodafone Group Plc (NASDAQ: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.