Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

Several other equities research analysts have also recently issued reports on the stock. HSBC Holdings plc cut shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Morgan Stanley downgraded shares of Telecom Argentina Stet – France Telecom from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $25.00 to $28.00 in a research note on Thursday, August 10th. TheStreet upgraded shares of Telecom Argentina Stet – France Telecom from a “c+” rating to an “a” rating in a report on Monday, June 12th. BidaskClub lowered shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, ValuEngine upgraded shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $29.67.

Shares of Telecom Argentina Stet – France Telecom (NYSE:TEO) traded up 1.540% during mid-day trading on Wednesday, reaching $31.325. 90,812 shares of the company’s stock traded hands. The stock has a market capitalization of $6.07 billion, a PE ratio of 17.900 and a beta of 1.47. The company’s 50-day moving average price is $30.64 and its 200-day moving average price is $26.48. Telecom Argentina Stet – France Telecom has a 12-month low of $17.04 and a 12-month high of $32.12.

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Several institutional investors have recently made changes to their positions in TEO. Alliancebernstein L.P. grew its holdings in shares of Telecom Argentina Stet – France Telecom by 3.1% during the 2nd quarter. Alliancebernstein L.P. now owns 555,270 shares of the utilities provider’s stock worth $14,071,000 after purchasing an additional 16,750 shares during the period. Acadian Asset Management LLC increased its position in shares of Telecom Argentina Stet – France Telecom by 60.5% during the 2nd quarter. Acadian Asset Management LLC now owns 508,691 shares of the utilities provider’s stock worth $12,890,000 after purchasing an additional 191,773 shares during the last quarter. Freestone Capital Holdings LLC increased its position in shares of Telecom Argentina Stet – France Telecom by 66.2% during the 2nd quarter. Freestone Capital Holdings LLC now owns 317,654 shares of the utilities provider’s stock worth $8,049,000 after purchasing an additional 126,578 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Telecom Argentina Stet – France Telecom by 26.5% during the 2nd quarter. Global X Management Co. LLC now owns 308,777 shares of the utilities provider’s stock worth $7,824,000 after purchasing an additional 64,753 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Telecom Argentina Stet – France Telecom by 76.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 251,228 shares of the utilities provider’s stock valued at $5,575,000 after buying an additional 108,953 shares during the period. 5.22% of the stock is currently owned by institutional investors and hedge funds.

Telecom Argentina Stet – France Telecom Company Profile

Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

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