Telecom Argentina Stet - France Telecom (NYSE:TEO) Upgraded at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Telecom Argentina (NYSE:TEO) from "neutral" to "overweight" and raised its price target to $16, implying roughly a 33.7% upside from the prior close.
• Shares traded up about 7% to $11.97 on the update, though the MarketBeat consensus remains a "Hold" with an average target of $13.87.
• Fundamentals are mixed: the company has negative net margin and return on equity and a negative P/E (-35.91), while analyst opinions are split (two Buys, one Hold, two Sells).

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a note issued to investors on Wednesday, Marketbeat reports. The firm presently has a $16.00 price target on the utilities provider's stock, up from their prior price target of $12.00. JPMorgan Chase & Co.'s price target indicates a potential upside of 33.69% from the company's previous close.

TEO has been the subject of several other reports. Scotiabank cut Telecom Argentina Stet - France Telecom from a "sector perform" rating to a "sector underperform" rating and increased their target price for the company from $8.20 to $8.60 in a report on Friday, March 27th. Zacks Research raised Telecom Argentina Stet - France Telecom from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Telecom Argentina Stet - France Telecom has a consensus rating of "Hold" and an average target price of $13.87.

Telecom Argentina Stet - France Telecom Trading Up 7.0%

NYSE:TEO traded up $0.78 during trading hours on Wednesday, reaching $11.97. The company's stock had a trading volume of 117,904 shares, compared to its average volume of 271,927. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.46 and a current ratio of 0.48. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of -35.91 and a beta of 1.27. The firm has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $11.48. Telecom Argentina Stet - France Telecom has a 1 year low of $6.43 and a 1 year high of $13.81.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $1.35 billion during the quarter. Telecom Argentina Stet - France Telecom had a negative net margin of 2.17% and a negative return on equity of 2.53%. Research analysts expect that Telecom Argentina Stet - France Telecom will post 0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd lifted its holdings in Telecom Argentina Stet - France Telecom by 8.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider's stock worth $249,000 after buying an additional 1,628 shares during the period. RWC Asset Management LLP increased its stake in shares of Telecom Argentina Stet - France Telecom by 0.4% during the third quarter. RWC Asset Management LLP now owns 669,828 shares of the utilities provider's stock valued at $4,870,000 after buying an additional 2,383 shares during the period. Bank of America Corp DE raised its holdings in shares of Telecom Argentina Stet - France Telecom by 21.3% during the second quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider's stock valued at $237,000 after acquiring an additional 4,714 shares in the last quarter. EFG International AG bought a new position in shares of Telecom Argentina Stet - France Telecom during the fourth quarter valued at approximately $58,000. Finally, Van ECK Associates Corp purchased a new stake in Telecom Argentina Stet - France Telecom in the third quarter worth $43,000.

About Telecom Argentina Stet - France Telecom

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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