LONDON, September 12 (newratings.com) - Analysts at ING Financial Markets maintain their "hold" rating on Vodafone Group Plc (ticker: VOD-GBX), while raising their estimates for the company. The target price has been reduced from 175p to 155p.
In
a research note published this morning, the analysts mention that the company continues to face big strategic issues related to fixed broadband investment and mobile broadband value in Europe. The outlook for Vodafone (LSE:
VOD.L -
news) 's fundamentals now appears less certain than before, the analysts say. The underlying revenue growth estimate for FY09 has been reduced to 1.1%. The EPS estimates for FY09 and FY10 have been raised by 3.5% and 3.7%, respectively, to reflect currency benefits.
© 2008 New Ratings
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