Vodafone (VOD -1.2%) isn't following its European tech/telecom peers higher thanks to a...

|By:, SA News Editor

Vodafone (VOD -1.2%) isn't following its European tech/telecom peers higher thanks to a downgrade to Hold from Nomura. The firm is concerned about Vodafone's Italian and Spanish performance, and thinks its dividend (yield of 5.3%) is at risk of being cut due to the carrier's spectrum-purchase needs. Yesterday, Barclays argued Vodafone's low valuation relative to Verizon (VZ), together with Verizon's cash needs, made it a better way to gain Verizon Wireless exposure. (BofA downgrade)