Lehman Cuts Vodafone To Equal Weight From Overweight

Lehman Brothers cut its rating on mobile-phone giant Vodafone Group to equal-weight from overweight on Thursday, saying that weakening fundamentals haven't allowed a share re-rating despite many positive catalysts materializing over the past six months.

"Visibility for European mobile remains limited and we struggle to identify a strong enough list of positive potential catalysts to allow out-performance of Vodafone in a sector context," the bank said.

-Sarah Turner; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 7th September 2006