Telecom Italia SpA (NYSE:TI) Receives $8.50 Consensus Target Price from Brokerages
Telecom Italia SpA (NYSE:TI) has earned an average recommendation of “Hold” from the ten research firms that are covering the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $8.50.
A number of research analysts have recently weighed in on the company. Macquarie raised Telecom Italia SpA from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 22nd. TheStreet cut Telecom Italia SpA from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Zacks Investment Research raised Telecom Italia SpA from a “sell” rating to a “hold” rating and set a $8.50 price target on the stock in a report on Tuesday, July 19th. HSBC cut Telecom Italia SpA from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Finally, JPMorgan Chase & Co. cut Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th.
Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Telecom Italia SpA by 32.4% in the second quarter. Rhumbline Advisers now owns 17,158 shares of the company’s stock worth $140,000 after buying an additional 4,200 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Telecom Italia SpA by 26.0% in the second quarter. Ameriprise Financial Inc. now owns 25,455 shares of the company’s stock worth $208,000 after buying an additional 5,255 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new stake in Telecom Italia SpA during the second quarter worth about $241,000. Finally, Gabelli Funds LLC increased its stake in Telecom Italia SpA by 2.8% in the second quarter. Gabelli Funds LLC now owns 369,000 shares of the company’s stock worth $3,015,000 after buying an additional 10,000 shares during the last quarter. 0.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Telecom Italia SpA (NYSE:TI) opened at 8.22 on Tuesday. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 17.12 and a beta of 1.55. The stock’s 50 day moving average price is $8.75 and its 200-day moving average price is $9.11. Telecom Italia SpA has a 1-year low of $6.95 and a 1-year high of $14.18.
Telecom Italia SpA Company Profile
Telecom Italia S.p.A. (Telecom Italia) operates fixed voice and data infrastructure in Italy, and provides mobile network platforms. The Company focuses on various areas of digital services, including Enriched Communication, Trusted Digital Life, Business Life, Indoor Life, Mobile Open Life and Digital Entertainment.
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