Telecom Italia SpA (NYSE:TI)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $8.87, but opened at $8.90. Telecom Italia SpA shares last traded at $9.03, with a volume of 36,219 shares traded.

TI has been the topic of several research analyst reports. Zacks Investment Research upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a research note on Saturday, June 18th. JPMorgan Chase & Co. cut Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. TheStreet upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. HSBC cut Telecom Italia SpA from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, Raymond James Financial Inc. restated a “buy” rating on shares of Telecom Italia SpA in a research note on Monday, May 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $8.50.

The company has a market cap of $17.58 billion and a price-to-earnings ratio of 17.13. The firm’s 50 day moving average price is $8.02 and its 200 day moving average price is $9.41.

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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