VODAFONE RECOMMENDATION

Vodafone "buy"

Tuesday, October 18, 2005 8:30:14 AM ET
Dresdner Kleinwort Wasser.

LONDON, October 18 (newratings.com) – Analyst Robert Grindle of Dresdner Kleinwort Wasserstein reiterates his "buy" rating on Vodafone Group Plc (VOD.ETR). The target price is set to 190p.

In a research note published this morning, the analyst mentions that Standard & Poor's has upgraded the company’s long-term corporate credit rating from "A" to "A+." Vodafone’s share price does not fully reflect the company’s future prospects, the analyst believes. Of the targeted £4.5 billion, the company has bought back £3.0 billion worth of shares so far in the current financial year, Dresdner Kleinwort Wasserstein adds