Nomura Securities Upgrades Vodafone (VOD) to Buy

Nomura Securities upgraded Vodafone (NASDAQ: VOD) from Neutral to Buy and raised its price target from GB 235p to 290p, saying asset swap talks should lead to wider negotiation.

Analyst James Britton commented, "Vodafone and Liberty Global are aligning on strategy and synergy potential and have the potential to create an unrivalled integrated communications provider across Europe. We think discussions around asset swaps will help to establish common ground around asset and synergy valuation, leaving the way for these sub-optimal scenarios to be weighed against a far more attractive scenario of combining all European assets under one roof."

For an analyst ratings summary and ratings history on Vodafone click here. For more ratings news on Vodafone click here.

Shares of Vodafone closed at $37.59 yesterday.

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