Downgrades: UK-VOD .. USA-chip sector
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Downgrades: UK-VOD .. USA-chip sector
06/11/03
Second downgrade on Vodafone in 2 days (UK:VOD)
Goldman Sachs cut its rating on U.K. mobile operator Vodafone(UK:VOD) to in-line from outperform, citing near-term concerns over the stock's recent gains, worries over wireless growth and a possible focus on a performance catch-up for other sector stocks.
On Tuesday, Morgan Stanley downgraded its rating on Vodafone to equal-weight.
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06/11/03
Morgan Stanley cuts chip sector, citing valuation ($SOX)
Analyst Mark Edelstone at Morgan Stanley lowered his rating on the semiconductor sector to "in-line" from "attractive." He believes fundamentals in the sector are improving, but also feels that the recent sharp appreciation in the stocks have made the reward versus risk profiles and valuations "less favorable." The Phlx Semiconductor Index ($SOX) closed Tuesday up 1.1 percent. The sector tracker has gained 29 percent since the end of March.
Second downgrade on Vodafone in 2 days (UK:VOD)
Goldman Sachs cut its rating on U.K. mobile operator Vodafone(UK:VOD) to in-line from outperform, citing near-term concerns over the stock's recent gains, worries over wireless growth and a possible focus on a performance catch-up for other sector stocks.
On Tuesday, Morgan Stanley downgraded its rating on Vodafone to equal-weight.
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06/11/03
Morgan Stanley cuts chip sector, citing valuation ($SOX)
Analyst Mark Edelstone at Morgan Stanley lowered his rating on the semiconductor sector to "in-line" from "attractive." He believes fundamentals in the sector are improving, but also feels that the recent sharp appreciation in the stocks have made the reward versus risk profiles and valuations "less favorable." The Phlx Semiconductor Index ($SOX) closed Tuesday up 1.1 percent. The sector tracker has gained 29 percent since the end of March.
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