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Portugal Telecom, SGPS (NYSE:PT) reached a new 52-week low on Tuesday , American Banking & Market News reports. The company traded as low as $2.31 and last traded at $2.33, with a volume of 436,826 shares. The stock had previously closed at $2.36.

Separately, analysts at Berenberg Bank downgraded shares of Portugal Telecom, SGPS from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $3.48.

The stock’s 50-day moving average is $3.1 and its 200-day moving average is $3.99. The company has a market cap of $1.984 billion and a P/E ratio of 5.80.

Portugal Telecom SGPS SA (NYSE:PT) provides a range of telecommunications and multimedia services in Portugal and other countries or regions, including Brazil and Africa.

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