Vodafone Group (NASDAQ:VOD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $31.00 price target on the cell phone carrier’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.43% from the stock’s current price.
According to Zacks, “Vodafone AirTouch Plc is the world’s largest international mobile communications firm. Their primary operation is in digital and analog cellular telephone networks of Vodafone. “
A number of other research analysts also recently issued reports on the company. Barclays raised Vodafone Group from an “equal weight” rating to an “overweight” rating in a report on Friday, December 8th. Raymond James Financial raised Vodafone Group from a “market perform” rating to a “strong-buy” rating in a report on Wednesday, January 17th. Numis Securities raised Vodafone Group from an “add” rating to a “buy” rating in a report on Monday, February 5th. BidaskClub downgraded Vodafone Group from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Finally, Bank of America reissued a “buy” rating and issued a $37.26 price target on shares of Vodafone Group in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.76.
Several hedge funds have recently made changes to their positions in VOD. Truewealth LLC acquired a new position in shares of Vodafone Group during the 4th quarter worth approximately $142,000. Proficio Capital Partners LLC raised its stake in shares of Vodafone Group by 60.9% during the 4th quarter. Proficio Capital Partners LLC now owns 4,641 shares of the cell phone carrier’s stock worth $148,000 after buying an additional 1,757 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Vodafone Group during the 3rd quarter worth approximately $151,000. Global Trust Asset Management LLC acquired a new position in shares of Vodafone Group during the 4th quarter worth approximately $171,000. Finally, Bank of Nova Scotia Trust Co. acquired a new position in shares of Vodafone Group during the 3rd quarter worth approximately $172,000. 10.92% of the stock is owned by institutional investors and hedge funds.
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About Vodafone Group
Vodafone Group Plc (Vodafone) is a telecommunications company. The Company’s business is organized into two geographic regions: Europe, and Africa, Middle East and Asia Pacific (AMAP). Its segments include Europe and AMAP. Its Europe segment includes geographic regions, such as Germany, Italy, the United Kingdom, Spain and Other Europe.
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