Telecom Italia SpA (TI) Rating Increased to Equal Weight at Barclays PLC
Telecom Italia SpA (NYSE:TI) was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating in a note issued to investors on Monday, The Fly reports.
Several other brokerages also recently weighed in on TI. Macquarie upgraded Telecom Italia SpA from a “neutral” rating to an “outperform” rating in a report on Thursday, September 22nd. JPMorgan Chase & Co. downgraded Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Zacks Investment Research upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. TheStreet upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, HSBC downgraded Telecom Italia SpA from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.50.
Telecom Italia SpA (NYSE:TI) opened at 7.83 on Monday. The stock has a 50 day moving average price of $8.45 and a 200 day moving average price of $8.87. Telecom Italia SpA has a 1-year low of $6.95 and a 1-year high of $14.18. The stock has a market cap of $15.16 billion, a PE ratio of 16.31 and a beta of 1.59.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in 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 during the last quarter. Zweig DiMenna Associates LLC bought a new stake in shares of Telecom Italia SpA during the second quarter valued at about $241,000. Ameriprise Financial Inc. boosted 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 during the period. Finally, Gabelli Funds LLC boosted 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 during the period. Institutional investors own 0.72% of the company’s stock.
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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