Macquarie Upgrades Telecom Italia SpA (TI) to “Outperform”
Telecom Italia SpA (NYSE:TI) was upgraded by equities researchers at Macquarie to an “outperform” rating in a note issued to investors on Thursday.
A number of other equities analysts have also issued reports on the company. TheStreet lowered Telecom Italia SpA from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. HSBC lowered Telecom Italia SpA from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Zacks Investment Research raised Telecom Italia SpA from a “sell” rating to a “hold” rating and set a $8.50 target price on the stock in a research report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. lowered Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Telecom Italia SpA has a consensus rating of “Hold” and an average price target of $8.50.
Telecom Italia SpA (NYSE:TI) opened at 8.36 on Thursday. Telecom Italia SpA has a 52-week low of $6.95 and a 52-week high of $14.18. The company has a 50-day moving average of $8.76 and a 200-day moving average of $9.22. The stock has a market capitalization of $16.19 billion, a price-to-earnings ratio of 17.06 and a beta of 1.55.
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A number of large investors have recently modified their holdings of TI. Rhumbline Advisers raised its stake in shares of Telecom Italia SpA by 32.4% in the second quarter. Rhumbline Advisers now owns 17,158 shares of the company’s stock valued at $140,000 after buying an additional 4,200 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Telecom Italia SpA by 26.0% in the second quarter. Ameriprise Financial Inc. now owns 25,455 shares of the company’s stock valued at $208,000 after buying an additional 5,255 shares in the last quarter. Zweig DiMenna Associates LLC bought a new stake in shares of Telecom Italia SpA during the second quarter valued at $241,000. Finally, Gabelli Funds LLC raised its stake in shares of Telecom Italia SpA by 2.8% in the second quarter. Gabelli Funds LLC now owns 369,000 shares of the company’s stock valued at $3,015,000 after buying an additional 10,000 shares in the last quarter. 0.71% of the stock is currently owned by hedge funds and other institutional investors.
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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