Telecom Italia SpA (NYSE:TI)’s share price fell 4.4% during mid-day trading on Thursday . The stock traded as low as $6.95 and last traded at $6.99, with a volume of 900,500 shares trading hands. The stock had previously closed at $7.31.

Several research firms recently issued reports on TI. JPMorgan Chase & Co. cut Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Zacks Investment Research raised Telecom Italia SpA from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Raymond James Financial Inc. reaffirmed a “buy” rating on shares of Telecom Italia SpA in a research report on Monday, May 16th. Finally, Barclays PLC reaffirmed an “equal weight” rating on shares of Telecom Italia SpA in a research report on Monday, March 28th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $11.00.

The company has a 50 day moving average of $8.90 and a 200-day moving average of $10.20. The company has a market capitalization of $13.48 billion and a PE ratio of 43.50.

Telecom Italia SpA is an Italy-based company engaged in the communications sector. It operates in the fixed and mobile national and international telecommunications sector. Its activities are divided into five business units. The Domestic unit provides telephone and data services on fixed line and mobile networks for retail voice customers and wholesale operators, as well as develop fiber optic networks.

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