Telecom Argentina Stet – France Telecom (NYSE:TEO) Upgraded to Strong-Buy at Wall Street Zen

Telecom Argentina Stet – France Telecom (NYSE:TEO) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

A number of other equities analysts have also commented on TEO. JPMorgan Chase & Co. lifted their price objective on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 9th. Scotiabank raised their price target on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Morgan Stanley raised shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $13.00 to $17.00 in a research note on Wednesday, June 24th. Weiss Ratings upgraded shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Zacks Research lowered shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Telecom Argentina Stet – France Telecom has an average rating of “Hold” and an average price target of $15.55.

Telecom Argentina Stet – France Telecom Stock Down 1.4%

Shares of TEO opened at $13.12 on Friday. The stock’s 50-day moving average price is $13.21 and its two-hundred day moving average price is $12.22. Telecom Argentina Stet – France Telecom has a 12 month low of $6.43 and a 12 month high of $16.34. The company has a market capitalization of $5.65 billion, a PE ratio of 25.72 and a beta of 1.35. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51.

Insider Buying and Selling

In related news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the completion of the purchase, the director owned 399,348 shares in the company, valued at approximately $5,363,243.64. This trade represents a 10.79% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Telecom Argentina Stet – France Telecom

Several large investors have recently made changes to their positions in the company. EFG International AG bought a new stake in Telecom Argentina Stet – France Telecom in the 4th quarter valued at about $58,000. Van ECK Associates Corp acquired a new stake in Telecom Argentina Stet – France Telecom in the third quarter valued at approximately $43,000. Engineers Gate Manager LP acquired a new stake in Telecom Argentina Stet – France Telecom in the second quarter valued at approximately $110,000. Qube Research & Technologies Ltd bought a new stake in shares of Telecom Argentina Stet – France Telecom during the third quarter valued at approximately $98,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Telecom Argentina Stet – France Telecom during the fourth quarter worth approximately $171,000.

About Telecom Argentina Stet – France Telecom

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.