Telecom Italia SpA (NYSE:TI) traded down 4.4% during mid-day trading on Thursday . The company 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.

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

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