Telecom Argentina Stet - France Telecom (NYSE:TEO) Shares Gap Up - What's Next?

Key Points

• Telecom Argentina Stet - France Telecom shares gapped up from $6.74 to $7.25 prior to trading, and currently trade at $7.13 with a volume of 81,604 shares.
• Scotiabank upgraded the stock's rating from "sector underperform" to "sector perform" and raised the price target from $4.50 to $8.20.
• The company has a market capitalization of $3.20 billion and a current consensus target price of $10.23, despite having a negative price-to-earnings ratio of -247.55.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $6.74, but opened at $7.25. Telecom Argentina Stet - France Telecom shares last traded at $7.13, with a volume of 81,604 shares trading hands.

Wall Street Analyst Weigh In

Separately, Scotiabank raised shares of Telecom Argentina Stet - France Telecom from a "sector underperform" rating to a "sector perform" rating and upped their target price for the company from $4.50 to $8.20 in a report on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $10.23.

Telecom Argentina Stet - France Telecom Stock Up 0.3%

The stock has a market capitalization of $3.21 billion, a PE ratio of -248.42 and a beta of 1.34. The firm's fifty day moving average is $8.79 and its 200-day moving average is $9.58. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.48.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new position in Telecom Argentina Stet - France Telecom during the first quarter worth about $119,000. Engineers Gate Manager LP acquired a new position in Telecom Argentina Stet - France Telecom during the second quarter worth about $110,000. Bank of America Corp DE grew its position in Telecom Argentina Stet - France Telecom by 87.0% during the fourth quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock worth $260,000 after buying an additional 9,621 shares during the period. Cetera Investment Advisers acquired a new position in Telecom Argentina Stet - France Telecom during the first quarter worth about $271,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina Stet - France Telecom during the first quarter worth about $329,000.

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.