Telecom Italia SpA (NYSE:TI) gapped up prior to trading on Friday . The stock had previously closed at $7.41, but opened at $7.44. Telecom Italia SpA shares last traded at $7.57, with a volume of 56,920 shares trading hands.

A number of research firms have issued reports on TI. JPMorgan Chase & Co. cut Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Zacks Investment Research upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating and set a $8.50 target price on the stock in a research note on Tuesday. Raymond James Financial Inc. reiterated a “buy” rating on shares of Telecom Italia SpA in a research note on Monday, May 16th. HSBC cut Telecom Italia SpA from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, Barclays PLC reiterated an “equal weight” rating on shares of Telecom Italia SpA in a research note on Monday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.50.

The firm has a market cap of $14.66 billion and a P/E ratio of 47.31. The company’s 50-day moving average price is $8.23 and its 200 day moving average price is $9.80.

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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