Jefferies Downgrades Vodafone For First Time In 2 Years

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.
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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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