Vodafone steady as Takeover Talk Swirls, Barclays Cuts Rating
Vodafone shares were up just 0.22% at 113.05 GBX on Thursday after hitting 114.90p earlier, as the stock paused after this week’s rally. The London telecoms name closed Wednesday up 2.69%. Investors earlier reacted to new fixed-line expansion news. Barclays moved first, cutting Vodafone to equal weight from overweight and lowering the target price to 110p from 120p. That's just under where Vodafone traded on Thursday, making it a notable move. “Equal weight” signals the broker is looking for Vodafone to perform about the same as its sector.