BofA/Merrill is downgrading Vodafone (VOD -1.2%) to Hold. While liking Vodafone's top-line growth and dividend yield, the firm is worried about slumping Italian profits, Indian spectrum costs, a relatively high P/E (currently 14), and the potential end of 45%-owned Verizon Wireless (VZ) and AT&T's (T) duopoly power in the U.S.
Are you Bullish or Bearish on ?
Sentiment on ()
Thanks for sharing your thoughts.