Wall Street Zen Downgrades Telecom Argentina Stet - France Telecom (NYSE:TEO) to Buy

Key Points

• Wall Street Zen downgraded Telecom Argentina Stet - France Telecom (NYSE:TEO) from strong-buy to buy in a Sunday research note.
• Other analysts have been mixed on the stock: recent moves include Scotiabank and Zacks cutting ratings, while JPMorgan and Morgan Stanley raised their targets and/or ratings. Overall, MarketBeat shows a Hold consensus with a $15.55 average price target.
• TEO opened at $13.66 and has ranged from $6.43 to $16.34 over the past year, with a market cap of about $5.88 billion. The article also noted a recent insider purchase by Director Alejandro Alberto Urricelqui of 38,890 shares.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

A number of other research analysts have also recently weighed in on TEO. 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 note on Wednesday, May 27th. Weiss Ratings raised shares of Telecom Argentina Stet - France Telecom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. Zacks Research cut shares of Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. JPMorgan Chase & Co. increased their price objective on shares of Telecom Argentina Stet - France Telecom from $16.00 to $19.00 and gave the company 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 lifted their target price for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $15.55.

Telecom Argentina Stet - France Telecom Stock Performance

Shares of TEO opened at $13.66 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.56. The stock has a 50-day moving average of $13.39 and a 200-day moving average of $12.29. The company has a market cap of $5.88 billion, a PE ratio of 26.78 and a beta of 1.35. Telecom Argentina Stet - France Telecom has a one year low of $6.43 and a one year high of $16.34.

Insiders Place Their Bets

In other Telecom Argentina Stet - France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought 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 directly owned 399,348 shares in the company, valued at $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Telecom Argentina Stet - France Telecom

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SPX Gestao de Recursos Ltda bought a new position in shares of Telecom Argentina Stet - France Telecom during the 1st quarter valued at approximately $8,565,000. Sagil Capital LLP purchased a new position in Telecom Argentina Stet - France Telecom during the fourth quarter worth $7,629,000. Banco BTG Pactual S.A. purchased a new position in Telecom Argentina Stet - France Telecom during the third quarter worth $2,725,000. RWC Asset Management LLP increased its position in Telecom Argentina Stet - France Telecom by 50.7% during the fourth quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider's stock valued at $11,717,000 after acquiring an additional 339,416 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Telecom Argentina Stet - France Telecom during the fourth quarter valued at $1,969,000.

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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