Telecom Argentina SA (NYSE:TEO)’s share price rose 2.8% on Thursday . The company traded as high as $19.68 and last traded at $19.68, with a volume of 78,071 shares traded. The stock had previously closed at $19.15.

TEO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised Telecom Argentina SA from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $15.50 to $20.00 in a research note on Thursday, May 12th. HSBC raised Telecom Argentina SA from a “reduce” rating to a “buy” rating and increased their price target for the company from $17.00 to $19.00 in a research note on Thursday, May 12th. Zacks Investment Research raised Telecom Argentina SA from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th. Finally, TheStreet raised Telecom Argentina SA from a “hold” rating to a “buy” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $18.94.

The stock’s 50 day moving average price is $18.63 and its 200 day moving average price is $17.68. The company has a market cap of $3.78 billion and a price-to-earnings ratio of 16.81.

A hedge fund recently raised its stake in Telecom Argentina SA stock. Morgan Stanley increased its position in shares of Telecom Argentina SA (NYSE:TEO) by 25.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,487,281 shares of the company’s stock after buying an additional 299,116 shares during the period. Morgan Stanley owned 0.77% of Telecom Argentina SA worth $23,901,000 as of its most recent SEC filing.

Telecom Argentina SA provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services.

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