Barclays downgraded Vodacom Group to Equal Weight from Overweight with a price target of ZAR 130, down from ZAR 145. Mobile money trends across Africa are consistently strong, and will remain so, the analyst tells investors in a research note. The firm downgraded Vodacom and upgraded Safaricom following an analysis of relative valuation and mobile money opportunity.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>