Telefonica SA (NYSE:TEF)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $9.87, but opened at $9.90. Telefonica SA shares last traded at $9.96, with a volume of 1,082,866 shares changing hands.

Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Telefonica SA from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Goldman Sachs Group Inc. lowered shares of Telefonica SA from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Credit Suisse Group AG lowered shares of Telefonica SA to a “hold” rating in a report on Thursday, May 26th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Telefonica SA in a report on Monday, May 23rd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of €11.00 ($12.36).

The firm has a market cap of $58.37 billion and a P/E ratio of 27.82. The firm has a 50 day moving average price of $9.81 and a 200-day moving average price of $10.25.

A hedge fund recently raised its stake in Telefonica SA stock. Morgan Stanley boosted its stake in Telefonica SA (NYSE:TEF) by 33.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,323,952 shares of the company’s stock after buying an additional 329,986 shares during the period. Morgan Stanley’s holdings in Telefonica SA were worth $14,643,000 as of its most recent SEC filing.

Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. The Company’s segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica UK and Telefonica Hispanoamerica.

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