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Benzinga
Benzinga
Business
Anusuya Lahiri

Jefferies Downgrades Vodafone For First Time In 2 Years

VOD Vodafone Jefferies Inflation CK Hutchison Nasdaq Vodafone Group Plc Germany United Kingdom
  • 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.
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