Shares of Telecom Italia SpA (NYSE:TI) saw strong trading volume on Friday . 1,764,559 shares traded hands during trading, an increase of 466% from the previous session’s volume of 311,627 shares.The stock last traded at $7.10 and had previously closed at $6.96.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Raymond James Financial Inc. restated a “buy” rating on shares of Telecom Italia SpA in a research report on Monday, May 16th. Barclays PLC restated an “equal weight” rating on shares of Telecom Italia SpA in a research report on Monday, March 28th. Finally, JPMorgan Chase & Co. cut Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.00.

The firm has a market cap of $13.71 billion and a P/E ratio of 44.25. The company has a 50-day moving average price of $8.76 and a 200-day moving average price of $10.13.

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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