Argus Starts Vodafone (VOD) at Hold

Argus initiates coverage on Vodafone (NASDAQ: VOD) with a Hold rating.

The analyst said although company efforts should boost earnings over time, they believe that Vodafone's growth prospects are already reflected in the stock's premium valuation of 33.3-times their FY18 earnings per ADS forecast, well above the peer average of 20.1 for diversified telecom services companies.

For an analyst ratings summary and ratings history on Vodafone click here. For more ratings news on Vodafone click here.

Shares of Vodafone closed at $29.20 yesterday.

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