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Nippon Telegraph & Telephone (NYSE:NTT) was upgraded by investment analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.

Shares of Nippon Telegraph & Telephone (NYSE:NTT) traded up 3.27% during mid-day trading on Wednesday, hitting $30.63. 583,556 shares of the company’s stock traded hands. Nippon Telegraph & Telephone has a 1-year low of $24.60 and a 1-year high of $30.57. The stock’s 50-day moving average is $28.61 and its 200-day moving average is $27.35. The company has a market cap of $68.001 billion and a P/E ratio of 11.93. Nippon Telegraph & Telephone also saw a large decrease in short interest in the month of May. As of May 30th, there was short interest totalling 602,842 shares, a decrease of 47.4% from the May 15th total of 1,145,317 shares. Based on an average daily volume of 250,455 shares, the short-interest ratio is presently 2.4 days. Currently, 0.0% of the shares of the stock are sold short.

NTT has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Nippon Telegraph & Telephone from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 20th. They now have a $30.90 price target on the stock.

NIPPON TELEGRAPH AND TELEPHONE CORPORATION (NYSE:NTT) is a Japan-based telecommunications provider.

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