Bank of America Believes Vodafone Group PLC is Likely Buyer of Fastweb

In a report published Wednesday, Bank of America analyst David Wright reiterated a Neutral rating and $33.22 price target on

. In the report, Bank of America noted, “VOD is in recovery mode but this is fragile and consensus expectations are increasingly optimistic, and unrealistically so as we move towards FY 17 in our view. Underlying this we see intense competition across key markets and the need to make ongoing premium acquisitions to evolve a historically mobile centric market in an increasingly converged world. Nevertheless dividend is supportive at current levels and should be maintained. While our PO is broadly in-line with current share price. We reiterate our Neutral rating.” Vodafone Group PLC closed on Tuesday at $32.89.