Telecom Italia S.P.A. (NYSE:TI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday. The firm currently has a $12.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 18.34% from the company’s previous close.

According to Zacks, “The Telecom Italia Group is engaged principally in the communication sector that operates mainly in Europe, the Mediterranean Basin and South America. This includes telephone and data services on fixed lines (for final retail customers and wholesale providers), the development of fiber optic networks for wholesale customers, BroadBand services, Internet services, domestic and international mobile telecommunications (especially in Brazil), and the television sector using both analog and digital terrestrial technology. The Group also operates businesses in the office products sector. “

Separately, BidaskClub raised Telecom Italia S.P.A. from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.00.

Shares of Telecom Italia S.P.A. (TI) opened at 10.14 on Thursday. The company has a 50-day moving average price of $9.41 and a 200 day moving average price of $9.02. The company has a market capitalization of $21.36 billion, a P/E ratio of 11.79 and a beta of 1.01. Telecom Italia S.P.A. has a 1-year low of $7.10 and a 1-year high of $10.23.

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Several institutional investors have recently bought and sold shares of the company. Wright Investors Service Inc. bought a new position in Telecom Italia S.P.A. during the second quarter worth approximately $314,000. Aperio Group LLC raised its position in Telecom Italia S.P.A. by 34.8% in the second quarter. Aperio Group LLC now owns 163,754 shares of the utilities provider’s stock worth $1,531,000 after buying an additional 42,297 shares during the last quarter. CWM LLC raised its position in Telecom Italia S.P.A. by 11.8% in the second quarter. CWM LLC now owns 90,622 shares of the utilities provider’s stock worth $847,000 after buying an additional 9,562 shares during the last quarter. Permian Investment Partners LP raised its position in Telecom Italia S.P.A. by 2.9% in the first quarter. Permian Investment Partners LP now owns 213,297 shares of the utilities provider’s stock worth $1,922,000 after buying an additional 6,000 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Telecom Italia S.P.A. during the first quarter worth approximately $278,000. 0.78% of the stock is owned by hedge funds and other institutional investors.

Telecom Italia S.P.A. 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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Analyst Recommendations for Telecom Italia S.P.A. (NYSE:TI)

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