Telecom Argentina SA (TEO) Sees Large Volume Increase
Telecom Argentina SA (NYSE:TEO) saw an uptick in trading volume on Friday . 76,906 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 95,063 shares.The stock last traded at $19.58 and had previously closed at $19.50.
Several brokerages recently commented on TEO. Zacks Investment Research upgraded shares of Telecom Argentina SA from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th. TheStreet upgraded shares of Telecom Argentina SA from a “hold” rating to a “buy” rating in a research report on Monday. HSBC upgraded shares of Telecom Argentina SA from a “reduce” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $19.00 in a research report on Thursday, May 12th. Finally, JPMorgan Chase & Co. upgraded shares of Telecom Argentina SA from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $15.50 to $20.00 in a research report on Thursday, May 12th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.94.
The stock’s 50 day moving average price is $18.68 and its 200-day moving average price is $17.69. The company has a market capitalization of $3.77 billion and a PE ratio of 16.78.
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 Securities and Exchange Commission (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 approximately 0.77% of Telecom Argentina SA worth $23,901,000 at the end of the most recent quarter.
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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