Shares of Telecom Italia SpA (NYSE:TI) 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.

A number of analysts recently commented on TI shares. JPMorgan Chase & Co. downgraded Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Zacks Investment Research raised Telecom Italia SpA from a “sell” rating to a “hold” rating and set a $8.50 price target for the company in a research report on Tuesday, July 19th. HSBC downgraded Telecom Italia SpA from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Raymond James Financial Inc. reaffirmed a “buy” rating on shares of Telecom Italia SpA in a research report on Monday, May 16th. Finally, TheStreet raised Telecom Italia SpA from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Two 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 presently has a consensus rating of “Hold” and an average price target of $8.50.

The company has a market capitalization of $16.44 billion and a PE 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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