Nomura has kept its 'neutral' rating for telecoms group Vodafone, saying that the higher-than-expected costs from last week's Dutch spectrum auction raise more questions of the company's 'inflated' dividend."Paying an inflated ordinary dividend has been discredited as a way to reward shareholders, it restricts strategic flexibility and it leaves Vodafone dependent on Verizon Wireless cash flows which compromises its ability to negotiate with Verizon. A review of cash return policy is overdue, we believe."Seymour Pierce has reiterated its 'buy' recommendation and 700p target price for outsourcing giant Serco following the firm's pre-close trading statement on Thursday."We remain buyers of the shares on account of the company's geographical and operational diversity which we believe puts the company in a strong position to deliver growth," said analyst Caroline de La Soujeole.Investec has raised its target price for engineering group Weir from 2,020p to 2,100p and reiterated its 'buy' rating for the stock, following Thursday's announcement that it is set to acquire pressure control provider Mathena."This acquisition fits in nicely with Seaboard and diversifies Oil & Gas revenues (31% of FY13E sales) away from the pressure pumping market," the broker said.BC