UBS Warburg has halved its price for Vodafone, the mobile phone company that has made a fortune for the Swiss investment bank but lost huge sums for investors who followed its earlier advice.

Daniel Stillit, telecoms analyst at UBS Warburg, has retained his 'strong buy' recommendation on Vodafone, but has cut his target price from 225p to 140p. Vodafone shares currently trade at 102.5p and have fallen from around 350p in just two years.

Nick Gilbert

Vodafone

Goldman Sachs

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How Morgan Stanley Courted Dodgy Customers to Build a Wealth-Management Empire

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UBS cuts Vodafone target price

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