Shares of Telecom Italia SpA (NYSE:TI) gapped down prior to trading on Wednesday . The stock had previously closed at $7.87, but opened at $8.00. Telecom Italia SpA shares last traded at $8.14, with a volume of 234,719 shares.

TI has been the subject of several research reports. Raymond James Financial Inc. restated a “buy” rating on shares of Telecom Italia SpA in a research report on Monday, May 16th. Zacks Investment Research upgraded shares of Telecom Italia SpA from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, April 27th. HSBC lowered shares of Telecom Italia SpA from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Finally, JPMorgan Chase & Co. lowered shares of Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Telecom Italia SpA has an average rating of “Hold” and a consensus price target of $8.50.

The company’s 50 day moving average is $8.09 and its 200-day moving average is $9.69. The firm has a market cap of $15.99 billion and a price-to-earnings ratio of 51.63.

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.

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.