Shares of Telecom Italia SpA (NYSE:TI) gapped up before the market opened 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.

Several analysts recently issued reports on TI shares. Zacks Investment Research raised shares of Telecom Italia SpA from a “sell” rating to a “hold” rating in a research note on Saturday, June 18th. JPMorgan Chase & Co. cut shares of Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Barclays PLC reissued an “equal weight” rating on shares of Telecom Italia SpA in a research note on Monday, March 28th. HSBC cut shares of Telecom Italia SpA from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, Raymond James Financial Inc. reissued a “buy” rating on shares of Telecom Italia SpA in a research note on Monday, May 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $8.50.

The company has a market capitalization of $14.66 billion and a PE ratio of 47.31. The firm has a 50-day moving average price of $8.23 and a 200-day moving average price of $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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