Barclays on Vodafone vs. Verizon: The Best Way to Play Verizon Wireless

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Barclays on Vodafone/Verizon: The Best Way to Play Verizon Wireless

Analyst, Maurice Patrick, said, "The U.S. is outperforming global wireless Telco markets, with Verizon Wireless a key winner due to historical investment. There are two ways to gain exposure to this, through its shareholders Verizon (NYSE: VZ) or Vodafone (NYSE: VOD). Our analysis indicates that Verizon's well known premium valuation to Vodafone is further exacerbated when looking at the stub value of the two companies. Furthermore, we see Verizon needing to upstream cash for its own dividend/tax/interest needs, implying limited minority risk to Vodafone. Following Vodafone's recent pullback we reiterate our preference for Vodafone (Overweight, 195p PT) over Verizon (Equal Weight, $40 PT)."

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