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Downgrade Alert for Vodafone Group (VOD)

By Shiri Gupta

Vodafone Group (NYSE:VOD) was downgraded from Outperform to Neutral at Macquarie today. The stock closed yesterday at $30.64 on volume of 8.1 million shares, above average daily volume of 3.3 million.

Vodafone Group Plc provides a range of mobile telecommunications services, including voice and data communications. Vodafone has equity interests in 28 countries and Partner Networks in a further 7 countries with almost all the Group's mobile subsidiaries operating principally under the brand name Vodafone. In the United States their associated undertaking operates as Verizon Wireless.

In the past 52 weeks, Vodafone Group share prices have been bracketed by a low of $28.83 and a high of $39.46 and closed yesterday at $30.64, 6% above that low price. The 200-day and 50-day moving averages have moved 0.27% lower and 0.56% higher over the past week, respectively.

There is potential upside of 22.4% for shares of Vodafone Group based on a current price of $30.64 and an average consensus analyst price target of $37.50. The stock should find initial resistance at its 50-day moving average (MA) of $31.95 and further resistance at its 200-day MA of $32.85.

SmarTrend is monitoring the recent change of momentum in Vodafone Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Vodafone Group in search of a potential trend change.

Keywords: analyst upgrades/downgrades vodafone group

Ticker(s): VOD