Wall Street Zen lowered shares of Telecom Argentina Stet – France Telecom (NYSE:TEO – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning.
Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of 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. Morgan Stanley raised Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $17.00 in a research report on Wednesday, June 24th. Scotiabank raised their target price on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. Zacks Research downgraded Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.55.
Get Our Latest Stock Analysis on Telecom Argentina Stet – France Telecom
Telecom Argentina Stet – France Telecom Trading Down 2.6%
Insider Activity
In other news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the transaction, the director owned 399,348 shares of the company’s stock, valued at approximately $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom
Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp acquired a new position in Telecom Argentina Stet – France Telecom in the third quarter valued at $43,000. EFG International AG acquired a new stake in Telecom Argentina Stet – France Telecom during the 4th quarter worth about $58,000. Qube Research & Technologies Ltd bought a new position in shares of Telecom Argentina Stet – France Telecom in the 3rd quarter worth about $98,000. Engineers Gate Manager LP bought a new position in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter worth about $110,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Telecom Argentina Stet – France Telecom in the 4th quarter valued at about $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.
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