Telecom Argentina Stet - France Telecom (NYSE:TEO) Given New $16.50 Price Target at UBS Group

Key Points

• UBS Group cut Telecom Argentina’s price target from $18.00 to $16.50 but maintained a “buy” rating, implying approximately 24.1% upside from the prior close.
• Analyst opinions remain mixed: the stock has three Buy, two Hold, and one Sell rating, resulting in an overall “Hold” consensus and an average target price of $15.43.
• TEO opened at $13.29, with a 12-month range of $6.43 to $16.34 and a market capitalization of about $5.73 billion; a company director also purchased 38,890 shares worth roughly $522,000.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) had its price target cut by equities researchers at UBS Group from $18.00 to $16.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the utilities provider's stock. UBS Group's price target would suggest a potential upside of 24.11% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Scotiabank lifted their target price on shares of 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. Wall Street Zen lowered shares of Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 26th. Weiss Ratings raised Telecom Argentina Stet - France Telecom from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 4th. Morgan Stanley raised Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $13.00 to $17.00 in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. increased their price objective on Telecom Argentina Stet - France Telecom from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Tuesday, June 9th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.43.

Telecom Argentina Stet - France Telecom Price Performance

Shares of NYSE:TEO opened at $13.29 on Wednesday. Telecom Argentina Stet - France Telecom has a 12 month low of $6.43 and a 12 month high of $16.34. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. The stock has a market cap of $5.73 billion, a P/E ratio of 10.80 and a beta of 1.36. The company has a 50 day moving average of $13.61 and a 200 day moving average of $12.52.

Insider Buying and Selling at Telecom Argentina Stet - France Telecom

In other Telecom Argentina Stet - France Telecom news, Director Alejandro Alberto Urricelqui bought 38,890 shares of Telecom Argentina Stet - France Telecom stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the transaction, the director directly owned 399,348 shares of the company's stock, valued at $5,363,243.64. This represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RWC Asset Management LLP raised its holdings in Telecom Argentina Stet - France Telecom by 50.7% in the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider's stock worth $11,717,000 after acquiring an additional 339,416 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Telecom Argentina Stet - France Telecom during the first quarter valued at approximately $8,565,000. Sagil Capital LLP bought a new position in Telecom Argentina Stet - France Telecom in the fourth quarter worth approximately $7,629,000. Banco BTG Pactual S.A. purchased a new position in shares of Telecom Argentina Stet - France Telecom during the 3rd quarter worth $2,725,000. Finally, UBS Group AG increased its stake in shares of Telecom Argentina Stet - France Telecom by 25.7% in the 4th quarter. UBS Group AG now owns 293,659 shares of the utilities provider's stock worth $3,409,000 after purchasing an additional 60,033 shares in the last quarter.

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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