Telecom Argentina SA (TEO) Trading 2.8% Higher
Telecom Argentina SA (NYSE:TEO) traded up 2.8% on Thursday . The stock traded as high as $19.68 and last traded at $19.68, with a volume of 78,071 shares trading hands. The stock had previously closed at $19.15.
Several equities research analysts have recently weighed in on the company. HSBC raised Telecom Argentina SA from a “reduce” rating to a “buy” rating and increased their price objective for the company from $17.00 to $19.00 in a report on Thursday, May 12th. Zacks Investment Research raised Telecom Argentina SA from a “sell” rating to a “hold” rating in a report on Friday, June 10th. JPMorgan Chase & Co. raised Telecom Argentina SA from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $15.50 to $20.00 in a report on Thursday, May 12th. Finally, TheStreet raised Telecom Argentina SA from a “hold” rating to a “buy” rating in a report on Monday, July 11th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Telecom Argentina SA currently has a consensus rating of “Buy” and a consensus target price of $18.94.
The stock has a 50-day moving average of $18.72 and a 200-day moving average of $17.72. The firm has a market capitalization of $3.77 billion and a PE ratio of 16.78.
An institutional investor recently raised its position in Telecom Argentina SA stock. Morgan Stanley raised its stake in Telecom Argentina SA (NYSE:TEO) by 25.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 0.77% of Telecom Argentina SA worth $23,901,000 as of its most recent filing with the SEC.
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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