Telefonica SA (NYSE:TEF) shares gapped up prior to trading on Friday . The stock had previously closed at $9.52, but opened at $9.59. Telefonica SA shares last traded at $9.76, with a volume of 1,843,546 shares changing hands.

Several research analysts have issued reports on TEF shares. Goldman Sachs Group Inc. cut Telefonica SA from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Credit Suisse Group AG cut Telefonica SA to a “hold” rating in a report on Thursday, May 26th. Nomura Holdings Inc. cut Telefonica SA from a “neutral” rating to a “reduce” rating in a report on Tuesday, April 5th. Zacks Investment Research raised Telefonica SA from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Telefonica SA in a report on Monday, May 23rd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of €11.00 ($12.22).

The stock has a market cap of $48.23 billion and a PE ratio of 30.09. The firm has a 50-day moving average of $9.64 and a 200-day moving average of $10.31.

Several hedge funds recently added to or reduced their stakes in TEF. Comerica Bank boosted its stake in Telefonica SA by 3.2% in the fourth quarter. Comerica Bank now owns 264,031 shares of the company’s stock valued at $2,733,000 after buying an additional 8,228 shares during the period. Dimensional Fund Advisors LP boosted its stake in Telefonica SA by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 861,732 shares of the company’s stock valued at $9,531,000 after buying an additional 84,811 shares during the period. Deere & Co. boosted its stake in Telefonica SA by 209.3% in the fourth quarter. Deere & Co. now owns 228,417 shares of the company’s stock valued at $2,526,000 after buying an additional 154,563 shares during the period. PNC Financial Services Group Inc. boosted its stake in Telefonica SA by 1,207.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 324,121 shares of the company’s stock valued at $3,584,000 after buying an additional 299,337 shares during the period. Finally, Morgan Stanley boosted its stake in Telefonica SA by 33.2% in the fourth quarter. Morgan Stanley now owns 1,323,952 shares of the company’s stock valued at $14,643,000 after buying an additional 329,986 shares during the period.

Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. The Company’s segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica UK and Telefonica Hispanoamerica.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.