Wall Street Zen Upgrades Telecom Argentina Stet - France Telecom (NYSE:TEO) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded Telecom Argentina Stet - France Telecom (NYSE:TEO) from “buy” to “strong-buy” in a report issued Saturday.
• Analyst sentiment remains mixed: recent moves include Morgan Stanley upgrading the stock to overweight, while Zacks Research cut it to hold. MarketBeat says the overall consensus is Hold with a target price of $15.55.
• At Friday’s open, TEO traded at $13.12; the company has a market cap of $5.65 billion, a 52-week range of $6.43 to $16.34, and director Alejandro Alberto Urricelqui recently bought 38,890 shares in an insider purchase.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued reports about the stock. Zacks Research cut shares of Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Weiss Ratings raised shares of Telecom Argentina Stet - France Telecom from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. boosted 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 research report on Tuesday, June 9th. Scotiabank raised 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 report on Wednesday, May 27th. Finally, Morgan Stanley upgraded Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $13.00 to $17.00 in a research note on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $15.55.

Telecom Argentina Stet - France Telecom Stock Performance

TEO opened at $13.12 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. Telecom Argentina Stet - France Telecom has a 52-week low of $6.43 and a 52-week high of $16.34. The firm has a market cap of $5.65 billion, a P/E ratio of 25.72 and a beta of 1.35. The business's fifty day moving average is $13.21 and its 200-day moving average is $12.22.

Insider Buying and Selling at Telecom Argentina Stet - France Telecom

In related news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of $13.43 per share, for a total transaction of $522,292.70. Following the completion of the acquisition, the director owned 399,348 shares of the company's stock, valued at approximately $5,363,243.64. This represents a 10.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 bought and sold shares of the company. RWC Asset Management LLP boosted its stake in shares of 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 purchasing an additional 339,416 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in Telecom Argentina Stet - France Telecom in the 1st quarter valued at approximately $8,565,000. Sagil Capital LLP acquired a new stake in Telecom Argentina Stet - France Telecom during the 4th quarter worth approximately $7,629,000. Banco BTG Pactual S.A. acquired a new stake in Telecom Argentina Stet - France Telecom during the 3rd quarter worth approximately $2,725,000. Finally, UBS Group AG grew its holdings in Telecom Argentina Stet - France Telecom by 25.7% during the 4th quarter. UBS Group AG now owns 293,659 shares of the utilities provider's stock worth $3,409,000 after acquiring an additional 60,033 shares during the last quarter.

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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