Telecom Argentina Stet - France Telecom (NYSE:TEO) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Telecom Argentina (NYSE:TEO) from “Buy” to “Hold.” Analysts’ overall consensus is also “Hold,” with three Buy, two Hold and one Sell rating, and an average price target of $15.43.
• TEO shares opened at $13.34, down 0.1%, with a 52-week range of $6.43 to $16.34 and a market capitalization of approximately $5.75 billion.
• Analyst sentiment remains mixed: UBS lowered its target to $16.50 while maintaining Buy, whereas JPMorgan and Morgan Stanley raised their targets to $19 and $17, respectively. A company director also purchased 38,890 shares worth about $522,000.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on the company. UBS Group reduced their price target on Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating on the stock in a research report on Wednesday. Scotiabank upped their target price on Telecom Argentina Stet - France Telecom from $8.60 to $9.20 and gave the company a "sector underperform" rating in a research report on Wednesday, May 27th. Zacks Research downgraded Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. JPMorgan Chase & Co. increased their target price on Telecom Argentina Stet - France Telecom from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, June 9th. Finally, Morgan Stanley raised Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $13.00 to $17.00 in a research note on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $15.43.

Telecom Argentina Stet - France Telecom Stock Down 0.1%

Shares of TEO opened at $13.34 on Friday. Telecom Argentina Stet - France Telecom has a 12 month low of $6.43 and a 12 month high of $16.34. The firm's 50 day moving average is $13.62 and its 200-day moving average is $12.54. The stock has a market capitalization of $5.75 billion, a PE ratio of 10.85 and a beta of 1.36. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.50.

Insider Transactions at Telecom Argentina Stet - France Telecom

In other Telecom Argentina Stet - France Telecom news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average price of $13.43 per share, with a total value of $522,292.70. Following the completion of the purchase, the director owned 399,348 shares in the company, valued at $5,363,243.64. The trade was a 10.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Telecom Argentina Stet - France Telecom

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in shares of Telecom Argentina Stet - France Telecom during the 3rd quarter valued at approximately $43,000. EFG International AG bought a new position in Telecom Argentina Stet - France Telecom in the 4th quarter valued at approximately $58,000. Qube Research & Technologies Ltd bought a new position in Telecom Argentina Stet - France Telecom in the 3rd quarter valued at approximately $98,000. Engineers Gate Manager LP acquired a new stake in Telecom Argentina Stet - France Telecom in the second quarter valued at approximately $110,000. Finally, Hsbc Holdings PLC acquired a new stake in Telecom Argentina Stet - France Telecom in the fourth quarter valued at approximately $171,000.

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.

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