Shares of Telecom Italia SpA (NYSE:TI) saw unusually-high trading volume on Wednesday . Approximately 167,630 shares were traded during trading, an increase of 68% from the previous session’s volume of 99,566 shares.The stock last traded at $9.01 and had previously closed at $9.05.

TI has been the topic of several research analyst reports. JPMorgan Chase & Co. cut shares of Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Telecom Italia SpA from a “sell” rating to a “hold” rating and set a $8.50 price target on the stock in a research note on Tuesday, July 19th. HSBC cut shares of Telecom Italia SpA from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. TheStreet raised shares of Telecom Italia SpA from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Raymond James Financial Inc. reissued a “buy” rating on shares of Telecom Italia SpA in a research note on Monday, May 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.50.

The firm has a market cap of $17.43 billion and a PE ratio of 18.75. The stock’s 50-day moving average price is $8.12 and its 200 day moving average price is $9.37.

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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