Telecom Argentina Stet - France Telecom (NYSE:TEO) Stock Jumps 8.2% - Time to Buy?

Key Points

• Telecom Argentina’s shares jumped 8.2% to about $13.50, with trading volume roughly 17% above its daily average.
• Analyst sentiment is mixed: Morgan Stanley upgraded the stock to “overweight” and raised its target to $17, while the broader consensus remains “Hold” with a $15.93 target price.
• The company has a $5.81 billion market capitalization and a P/E ratio of 10.95; several institutional investors recently initiated or increased positions, although an insider sold 188,500 shares.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report)'s share price traded up 8.2% during mid-day trading on Wednesday. The stock traded as high as $13.44 and last traded at $13.4960. Approximately 411,403 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 350,272 shares. The stock had previously closed at $12.47.

Analyst Ratings Changes

Several brokerages recently weighed in on TEO. Morgan Stanley upgraded shares of Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. Santander started coverage on Telecom Argentina Stet - France Telecom in a research report on Friday, October 16th. They issued an "outperform" rating on the stock. Wall Street Zen downgraded Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a research note on Sunday, September 20th. Weiss Ratings raised Telecom Argentina Stet - France Telecom from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. Finally, UBS Group reduced their target price on Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating for the company in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Telecom Argentina Stet - France Telecom currently has an average rating of "Hold" and a consensus target price of $15.93.

Telecom Argentina Stet - France Telecom Stock Up 8.2%

The company has a market capitalization of $5.81 billion, a PE ratio of 10.95 and a beta of 1.35. The company's fifty day moving average is $13.04 and its 200-day moving average is $12.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.58.

Insider Activity

In other Telecom Argentina Stet - France Telecom 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 stock was sold at an average price of $2.78, for a total value of $524,030.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Telecom Argentina Stet - France Telecom

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Verde Servicos Internacionais S.A. bought a new position in Telecom Argentina Stet - France Telecom in the 1st quarter valued at $701,000. ABS Direct Equity Fund LLC bought a new stake in shares of Telecom Argentina Stet - France Telecom during the second quarter worth $3,033,000. Artemis Investment Management LLP purchased a new stake in shares of Telecom Argentina Stet - France Telecom during the third quarter valued at $11,422,000. Absolute Gestao de Investimentos Ltda. boosted its stake in shares of Telecom Argentina Stet - France Telecom by 156.7% during the second quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider's stock valued at $2,898,000 after purchasing an additional 136,091 shares during the period. Finally, SPX Gestao de Recursos Ltda purchased a new stake in shares of Telecom Argentina Stet - France Telecom during the first quarter valued at $8,565,000.

Telecom Argentina Stet - France Telecom Company Profile

Telecom Argentina SA is a telecommunications and digital-services company serving residential, business and government customers primarily in Argentina. Its offerings include mobile voice and data services, fixed-line telephony, broadband internet, data transmission and other connectivity solutions.

The company also provides pay television and digital entertainment through its Flow platform, along with information and communications technology services for businesses, including cloud, cybersecurity, data-center and managed connectivity solutions.

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