UPDATE: Bernstein Research Reiterates on Vodafone on Possible Merger with AT&T

In a report published Wednesday, Bernstein Research analyst Robin Bienenstock reiterated a Market Perform rating on Vodafone (NASDAQ: VOD ), and raised the price target from $35.50 to $40.00. In the report, Bernstein Research noted, “Operationally and strategically, both AT&T and Vodafone are experiencing a rough patch. The possible mega