:VODAFONE: Traders Thread, Long or Short!

HSBC Lowers Vodafone Valuation Range

Friday, December 16, 2005 3:03:33 AM ET
Dow Jones Newswires

0658 GMT [Dow Jones] HSBC downgrades Vodafone's (VOD.ETR) DCF-based valuation range to 152p-168p from 175p-185p in accordance with lower margin expectations in Japan and higher tax charges. However, continues to believe that Vodafone's growth prospects make the shares inexpensive. Retains overweight. Shares closed at 125.25p. (SMT)
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Thursday, December 15, 2005 5:41:38 AM ET
Dresdner Kleinwort Wasser.

LONDON, December 15 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "buy" rating on Vodafone Group Plc (VOD.ETR). The target price is set to 165p.

In a research note published yesterday, the analysts mention that in its recent conference call, Vodafone indicated that its Telsim acquisition is expected to generate IRR (internal rate of return) and ROCE of +20% and 20%, respectively, over a period of five years. The company expects to improve the performance of the Telsim franchise via business customer focus, improved network quality, roaming tariff packages, branding handset and equipment purchasing, customer care and distribution, and handset and equipment purchasing.
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Thursday, December 15, 2005 2:08:16 AM ET
Credit Suisse First Boston

LONDON, December 15 (newratings.com) - In a research note published yesterday, analysts at Credit Suisse First Boston reiterate their "neutral" rating on Vodafone Group (VOD.ETR). The target price is set to 128p.
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Wednesday, December 14, 2005 8:31:01 AM ET
ING Financial Markets

LONDON, December 14 (newratings.com) - Analysts at ING Financial Markets reiterate their "buy" rating on Vodafone (VOD.ETR). The target price is set to 160p.

In a research note published this morning, the analysts mention that the company is buying the second-largest mobile operator in Turkey, Telsim, for $4.55 billion. The deal, expected to close in 1Q06, would be dilutive to Vodafone’s EPS for the next five years and would generate +20% revenue growth over the medium term, the analysts say. The company plans to invest heavily over the next three years in order to boost its growth prospects.