Telecom Italia SpA (NYSE:TI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $8.13, but opened at $8.22. Telecom Italia SpA shares last traded at $8.46, with a volume of 88,875 shares changing hands.

TI has been the topic of several recent analyst reports. Raymond James Financial Inc. restated a “buy” rating on shares of Telecom Italia SpA in a 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 objective on the stock in a report on Wednesday, April 27th. TheStreet upgraded shares of Telecom Italia SpA from a “sell” rating to a “hold” rating in a report on Tuesday. HSBC downgraded shares of Telecom Italia SpA from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Finally, JPMorgan Chase & Co. downgraded shares of Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.50.

The stock has a market cap of $16.44 billion and a price-to-earnings ratio of 16.33. The company has a 50 day moving average price of $8.01 and a 200 day moving average price of $9.66.

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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