Telecom Italia SpA (NYSE:TI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $8.96, but opened at $9.01. Telecom Italia SpA shares last traded at $9.15, with a volume of 23,326 shares.

Several research firms have recently issued reports on TI. Zacks Investment Research upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Raymond James Financial Inc. reiterated a “buy” rating on shares of Telecom Italia SpA in a report on Monday, May 16th. HSBC lowered Telecom Italia SpA from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. TheStreet upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. lowered Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $8.50.

The stock has a market cap of $17.66 billion and a P/E ratio of 18.61. The company’s 50 day moving average price is $8.36 and its 200 day moving average price is $9.34.

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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