Telecom Italia SpA (NYSE:TI)’s share price traded down 4.1% during mid-day trading on Wednesday . The company traded as low as $7.21 and last traded at $7.26, with a volume of 137,880 shares changing hands. The stock had previously closed at $7.57.

A number of equities analysts recently issued reports on the company. Barclays PLC restated an “equal weight” rating on shares of Telecom Italia SpA in a report on Monday, March 28th. Raymond James Financial Inc. restated a “buy” rating on shares of Telecom Italia SpA in a report on Monday, May 16th. Zacks Investment Research upgraded Telecom Italia SpA from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, April 27th. JPMorgan Chase & Co. cut Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Finally, HSBC cut Telecom Italia SpA from a “buy” rating to a “hold” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

The firm has a 50 day moving average price of $8.55 and a 200 day moving average price of $10.00. The company has a market capitalization of $14.35 billion and a PE ratio of 46.31.

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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