Telecom Argentina SA (TEO) Sees Strong Trading Volume
Telecom Argentina SA (NYSE:TEO) saw unusually-high trading volume on Friday . Approximately 76,906 shares were traded 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.
TEO has been the subject of a number of research reports. Zacks Investment Research raised shares of Telecom Argentina SA from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th. TheStreet raised shares of Telecom Argentina SA from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. JPMorgan Chase & Co. raised shares of Telecom Argentina SA from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $15.50 to $20.00 in a research note on Thursday, May 12th. Finally, HSBC raised shares of Telecom Argentina SA from a “reduce” rating to a “buy” rating and upped their price objective for the company from $17.00 to $19.00 in a research note on Thursday, May 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.94.
The firm’s 50 day moving average is $18.72 and its 200 day moving average is $17.72. The stock has a market capitalization of $3.77 billion and a price-to-earnings ratio of 16.85.
An institutional investor recently raised its position in Telecom Argentina SA stock. Morgan Stanley boosted its stake in shares of 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 institutional investor 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 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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