Argus Starts Vodafone (VOD) at Hold
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Argus initiates coverage on Vodafone (NASDAQ: VOD) with a Hold rating.
The analyst said although company efforts should boost earnings over time, they believe that Vodafone's growth prospects are already reflected in the stock's premium valuation of 33.3-times their FY18 earnings per ADS forecast, well above the peer average of 20.1 for diversified telecom services companies.
Shares of Vodafone closed at $29.20 yesterday.
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