Morgan Stanley remains positive on the phone company, keeping its “overweight” rating and 210p. The broker is bullish on telecoms in India, which makes around seven per cent of Vodafone’s earnings, and expects to see margins rise.
UBS has moved its rating on the price comparison site from “buy” to “neutral” and lowered its target from 230p to 190p. While the broker is upbeat on the firm’s long-term prospects, uncertainty over competition from Google and lower savings rates have prompted a rating cut.
Numis keeps its “sell” rating and raises its target from 67p to 71p following the investment group’s quarterly earnings. The broker warns that Man remains “uninvestable for most investors”, given its share price swings that are based on sentiment rather than performance.