Nomura Securities Maintains a 'Buy' on Vodafone (VOD); Solid Q4 Results

Nomura Securities maintains a 'Buy' on Vodafone (NASDAQ: VOD), PT cut to 225p.

Analyst, James Britton, said, "Solid Q4 and strong VZW results expected to drive stock near-term. We update our mid-term estimates to adjust for tougher EC roaming cuts and a weaker euro and reduce our PT from 230p to 225p. Mobile is set to benefit noticeably from the extra leap year day. Vodafone expect a 0.7-0.9% boost to service revenue growth. Reflecting reduced MTR pressure in Germany, Netherlands, Portugal and Greece (+ impacts) and last year’s accounting distortion in Spain (-), we now expect service revenue growth to improve 100bp to 1.9% in Q4."

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 $27.57 yesterday.

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