Zacks Investment Research Upgrades Telecom Italia (TI) to Hold
Zacks Investment Research upgraded shares of Telecom Italia (NYSE:TI) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “The Telecom Italia Group is engaged principally in the communication sector that operates mainly in Europe, the Mediterranean Basin and South America. This includes telephone and data services on fixed lines (for final retail customers and wholesale providers), the development of fiber optic networks for wholesale customers, BroadBand services, Internet services, domestic and international mobile telecommunications (especially in Brazil), and the television sector using both analog and digital terrestrial technology. The Group also operates businesses in the office products sector. “
Other equities research analysts have also recently issued reports about the company. TheStreet cut Telecom Italia from a c- rating to a d rating in a research note on Friday, November 9th. Morgan Stanley cut Telecom Italia from an overweight rating to an equal weight rating in a research note on Tuesday, November 13th. Citigroup raised Telecom Italia from a sell rating to a neutral rating in a report on Monday, September 10th. Goldman Sachs Group lowered Telecom Italia from a buy rating to a neutral rating in a report on Tuesday, November 27th. Finally, Sanford C. Bernstein lowered Telecom Italia from a market perform rating to a sell rating in a report on Wednesday, November 14th. Seven analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of Sell and a consensus price target of $9.02.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tuttle Tactical Management purchased a new stake in Telecom Italia in the 2nd quarter worth about $179,000. Jane Street Group LLC purchased a new stake in Telecom Italia in the 2nd quarter worth about $1,498,000. OLD Mission Capital LLC purchased a new stake in Telecom Italia in the 2nd quarter worth about $104,000. CWM LLC increased its holdings in Telecom Italia by 31.9% in the 3rd quarter. CWM LLC now owns 573,494 shares of the utilities provider’s stock worth $3,441,000 after acquiring an additional 138,789 shares during the last quarter. Finally, First Foundation Advisors increased its holdings in Telecom Italia by 123.6% in the 3rd quarter. First Foundation Advisors now owns 139,174 shares of the utilities provider’s stock worth $835,000 after acquiring an additional 76,933 shares during the last quarter. 0.80% of the stock is owned by institutional investors.
About Telecom Italia
Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, the Mediterranean Basin, and South America. It offers landline and mobile telecommunications, voice, messaging, data, Internet, and broadband services for consumers, as well as for small and medium-size enterprises, small offices/home offices, public sector clients, large accounts, and enterprises in the fixed and mobile telecommunications markets.
Recommended Story: What is dollar cost averaging (DCA)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Telecom Italia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telecom Italia and related companies with MarketBeat.com's FREE daily email newsletter.