Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Telecom Argentina has a consensus “Hold” rating from six analysts: three buys, two holds and one sell. The average 12-month price target is $15.43.
• Analyst views remain mixed: UBS cut its target to $16.50 while maintaining a buy rating, Morgan Stanley raised its target to $17 and upgraded the stock to overweight, and Scotiabank rated it sector underperform with a $9.20 target.
• TEO recently traded at $13.27, up 1.6%, with a market capitalization of about $5.72 billion. A company director sold 188,500 shares for approximately $524,000, while institutional investors made several new or expanded investments.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $15.4250.

Several research firms have weighed in on TEO. UBS Group cut their target price on Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Weiss Ratings upgraded Telecom Argentina Stet - France Telecom from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Wall Street Zen lowered Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Scotiabank raised their price objective on Telecom Argentina Stet - France Telecom from $8.60 to $9.20 and gave the company a "sector underperform" rating in a research note on Wednesday, May 27th. Finally, Morgan Stanley upgraded Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th.

Insider Buying and Selling

In other news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of Telecom Argentina Stet - France Telecom stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $2.78, for a total value of $524,030.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Telecom Argentina Stet - France Telecom

A number of institutional investors and hedge funds have recently modified their holdings of TEO. Absolute Gestao de Investimentos Ltda. boosted its holdings in shares of Telecom Argentina Stet - France Telecom by 156.7% during the 2nd quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider's stock worth $2,898,000 after buying an additional 136,091 shares during the period. XP Advisory US Inc. bought a new position in Telecom Argentina Stet - France Telecom in the 2nd quarter worth $82,000. SPX Gestao de Recursos Ltda bought a new position in Telecom Argentina Stet - France Telecom in the 1st quarter worth $8,565,000. Y Intercept Hong Kong Ltd lifted its position in Telecom Argentina Stet - France Telecom by 8.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider's stock worth $249,000 after acquiring an additional 1,628 shares during the last quarter. Finally, Pictet Asset Management Holding SA acquired a new position in Telecom Argentina Stet - France Telecom during the 1st quarter worth $561,000.

Telecom Argentina Stet - France Telecom Stock Up 1.6%

Telecom Argentina Stet - France Telecom stock opened at $13.27 on Tuesday. The company has a market capitalization of $5.72 billion, a P/E ratio of 10.79 and a beta of 1.36. The firm's fifty day simple moving average is $13.37 and its 200-day simple moving average is $12.57. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. Telecom Argentina Stet - France Telecom has a 1-year low of $6.43 and a 1-year high of $16.34.

About Telecom Argentina Stet - France Telecom

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.

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