Telecom Argentina Stet - France Telecom (NYSE:TEO) Upgraded at Scotiabank

Key Points

• Scotiabank upgraded Telecom Argentina Stet - France Telecom from a "sector underperform" to a "sector perform" rating, signaling increased confidence in the company's future performance.
• As of Monday, shares of Telecom Argentina traded down to $7.67, reflecting a 40% decrease from its 12-month high of $15.53.
• Recent hedge fund activity shows increased interest, with firms such as BNP Paribas Financial Markets increasing their holdings by over 34%, indicating potentially growing institutional confidence.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) was upgraded by equities researchers at Scotiabank from a "sector underperform" rating to a "sector perform" rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has a $8.20 price target on the utilities provider's stock, up from their previous price target of $4.50. Scotiabank's price objective points to a potential upside of 15.82% from the company's previous close.

Telecom Argentina Stet - France Telecom Stock Down 4.6%

Shares of NYSE:TEO traded down $0.34 during trading on Monday, hitting $7.08. The company's stock had a trading volume of 365,402 shares, compared to its average volume of 257,975. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.43. Telecom Argentina Stet - France Telecom has a fifty-two week low of $6.95 and a fifty-two week high of $15.53. The stock's 50-day moving average price is $8.99 and its two-hundred day moving average price is $9.78. The company has a market capitalization of $3.05 billion, a PE ratio of -235.92 and a beta of 1.34.

Institutional Trading of Telecom Argentina Stet - France Telecom

A number of institutional investors and hedge funds have recently made changes to their positions in TEO. Engineers Gate Manager LP bought a new position in Telecom Argentina Stet - France Telecom in the 2nd quarter worth approximately $110,000. BNP Paribas Financial Markets grew its holdings in Telecom Argentina Stet - France Telecom by 34.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 149,672 shares of the utilities provider's stock worth $1,322,000 after buying an additional 38,107 shares in the last quarter. Bank of America Corp DE grew its holdings in Telecom Argentina Stet - France Telecom by 21.3% in the 2nd quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider's stock worth $237,000 after buying an additional 4,714 shares in the last quarter. Jane Street Group LLC bought a new position in Telecom Argentina Stet - France Telecom in the 2nd quarter worth approximately $578,000. Finally, Jump Financial LLC bought a new position in Telecom Argentina Stet - France Telecom in the 2nd quarter worth approximately $596,000.

About Telecom Argentina Stet - France Telecom

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.