Telecom Italia SpA (TI) Upgraded at Credit Suisse Group AG
Telecom Italia SpA (NYSE:TI) was upgraded by stock analysts at Credit Suisse Group AG from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday.
Other equities research analysts have also recently issued research reports about the company. Barclays PLC upgraded Telecom Italia SpA from an “underweight” rating to an “equal weight” rating in a research note on Monday. Zacks Investment Research upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. TheStreet upgraded Telecom Italia SpA from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. HSBC cut Telecom Italia SpA from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, JPMorgan Chase & Co. cut Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Telecom Italia SpA presently has an average rating of “Hold” and an average price target of $8.50.
Telecom Italia SpA (NYSE:TI) traded up 2.68% during midday trading on Monday, reaching $8.04. The company’s stock had a trading volume of 39,941 shares. The stock’s 50 day moving average is $8.45 and its 200 day moving average is $8.87. Telecom Italia SpA has a 12-month low of $6.95 and a 12-month high of $14.18. The stock has a market cap of $15.57 billion, a P/E ratio of 16.75 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 TI. Gabelli Funds LLC raised its position in 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. Zweig DiMenna Associates LLC bought a new position in Telecom Italia SpA during the second quarter worth about $241,000. Ameriprise Financial Inc. raised its position in Telecom Italia SpA by 26.0% in the second quarter. Ameriprise Financial Inc. now owns 25,455 shares of the company’s stock worth $208,000 after buying an additional 5,255 shares during the last quarter. Finally, Rhumbline Advisers raised 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 worth $140,000 after buying an additional 4,200 shares during the last quarter. 0.72% of the stock is currently owned by institutional investors.
About Telecom Italia SpA
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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