Telecom Italia S.P.A. (NYSE:TI) has received an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $1.80.
A number of analysts have recently commented on TI shares. Scotiabank restated an “outperform” rating and set a $1.80 price objective on shares of Telecom Italia in a report on Wednesday, November 8th. Zacks Investment Research downgraded Telecom Italia from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Goldman Sachs Group cut shares of Telecom Italia from a “buy” rating to a “neutral” rating in a research report on Monday, November 13th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Telecom Italia in a research report on Tuesday, August 29th.
A number of institutional investors have recently made changes to their positions in the stock. Aperio Group LLC boosted its position in Telecom Italia by 6.7% during the 3rd quarter. Aperio Group LLC now owns 174,725 shares of the utilities provider’s stock worth $1,642,000 after purchasing an additional 10,971 shares during the period. Permian Investment Partners LP boosted its position in Telecom Italia by 12.5% during the 3rd quarter. Permian Investment Partners LP now owns 163,377 shares of the utilities provider’s stock worth $1,536,000 after purchasing an additional 18,200 shares during the period. Stifel Financial Corp purchased a new stake in Telecom Italia during the 2nd quarter worth $1,225,000. Bank of New York Mellon Corp boosted its position in Telecom Italia by 13.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 66,100 shares of the utilities provider’s stock worth $622,000 after purchasing an additional 7,887 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Telecom Italia during the 1st quarter worth $278,000. 0.75% of the stock is owned by hedge funds and other institutional investors.
About Telecom Italia
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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