BROKERWATCH Vodafone upped to 'equal-weight' vs 'underweight' at Morgan Stanley

Wed. July 23, 2008; Posted: 02:03 AM

LONDON, Jul 23, 2008 (Thomson Financial via COMTEX) -- VOD | Quote | Chart | News | PowerRating -- Morgan Stanley has upgraded Vodafone Group Plc. to 'equal-weight' from 'underweight' with a price target of 170 pence, market sources said.

In a note published this morning, Morgan Stanley said that it is upgrading Vodafone as the shares now discount an extreme decline in free cash flow.

The broker added that it sees Vittorio Colao starting his term as the new CEO as a key positive for the group. joanne.frearson@thomsonreuters.com jf/ejp

Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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For full details on Morgan Stanley (MS) click here. Morgan Stanley (MS) has Short Term PowerRatings of 4. Details on Morgan Stanley (MS) Short Term PowerRatings is available at This Link.

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