Telecom Argentina SA (TEO) Upgraded to “Buy” at Zacks Investment Research
Telecom Argentina SA (NYSE:TEO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $20.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 10.38% from the company’s current price.
According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “
Other equities analysts have also recently issued reports about the company. TheStreet upgraded Telecom Argentina SA from a “hold” rating to a “buy” rating in a report on Monday, July 11th. Morgan Stanley upgraded Telecom Argentina SA from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $23.00 in a report on Tuesday, September 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $20.28.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/telecom-argentina-sa-teo-upgraded-to-buy-at-zacks-investment-research.html
Telecom Argentina SA (NYSE:TEO) opened at 18.12 on Wednesday. The firm has a 50-day moving average of $18.45 and a 200-day moving average of $18.46. Telecom Argentina SA has a one year low of $14.03 and a one year high of $20.28. The company has a market capitalization of $3.51 billion, a P/E ratio of 16.86 and a beta of 1.35.
Several hedge funds have recently made changes to their positions in TEO. James Investment Research Inc. boosted its stake in shares of Telecom Argentina SA by 33.6% in the second quarter. James Investment Research Inc. now owns 15,900 shares of the company’s stock worth $291,000 after buying an additional 4,000 shares during the last quarter. Royal Bank of Canada raised its position in shares of Telecom Argentina SA by 1,581.4% in the first quarter. Royal Bank of Canada now owns 16,814 shares of the company’s stock worth $300,000 after buying an additional 15,814 shares during the period. Cambiar Investors LLC acquired a new position in shares of Telecom Argentina SA during the second quarter worth about $372,000. John G Ullman & Associates Inc. acquired a new position in shares of Telecom Argentina SA during the second quarter worth about $374,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Telecom Argentina SA during the second quarter worth about $547,000. Institutional investors and hedge funds own 8.64% of the company’s stock.
About Telecom Argentina SA
Telecom Argentina SA provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Telecom Argentina SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telecom Argentina SA and related companies with MarketBeat.com's FREE daily email newsletter.