Telecom Argentina Stet - France Telecom (NYSE:TEO) Given New $21.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Telecom Argentina’s price target from $19 to $21 and maintained an “overweight” rating, implying 62.04% upside from the prior close.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy, two a Hold, and one a Sell, resulting in an overall “Hold” consensus and an average price target of $15.93.
• TEO shares opened at $12.96 and were down 2.6%, with the stock trading between a 12-month range of $6.43 to $16.34 and carrying a market capitalization of approximately $5.58 billion.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) had its target price raised by stock analysts at JPMorgan Chase & Co. from $19.00 to $21.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the utilities provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 62.04% from the company's previous close.

Other analysts also recently issued research reports about the company. Zacks Research downgraded Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Morgan Stanley raised shares of Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $13.00 to $17.00 in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of Telecom Argentina Stet - France Telecom from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday. Finally, Scotiabank increased their price objective on shares of Telecom Argentina Stet - France Telecom from $8.60 to $9.20 and gave the company a "sector underperform" rating in a report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $15.93.

Telecom Argentina Stet - France Telecom Trading Down 2.6%

Shares of TEO opened at $12.96 on Friday. Telecom Argentina Stet - France Telecom has a twelve month low of $6.43 and a twelve month high of $16.34. The business's 50-day moving average price is $13.39 and its 200-day moving average price is $12.61. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.50. The stock has a market cap of $5.58 billion, a PE ratio of 10.54 and a beta of 1.33.

Insider Activity

In related news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $2.78, for a total transaction of $524,030.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in Telecom Argentina Stet - France Telecom during the 3rd quarter valued at about $43,000. EFG International AG purchased a new position in shares of Telecom Argentina Stet - France Telecom during the fourth quarter worth approximately $58,000. XP Advisory US Inc. purchased a new position in shares of Telecom Argentina Stet - France Telecom during the second quarter worth approximately $82,000. Qube Research & Technologies Ltd bought a new stake in shares of Telecom Argentina Stet - France Telecom during the third quarter valued at approximately $98,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Telecom Argentina Stet - France Telecom during the second quarter valued at approximately $110,000.

Telecom Argentina Stet - France Telecom Company Profile

Telecom Argentina Stet – France Telecom NYSE: TEO is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country's principal communications groups, offering a comprehensive portfolio of voice and data services.

The company's core business activities span fixed-line telephony, mobile services, broadband internet and digital television.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source