Wall Street Zen cut shares of Telecom Argentina Stet – France Telecom (NYSE:TEO – Free Report) from a buy rating to a hold rating in a research note released on Saturday morning.
Several other research firms also recently weighed in on TEO. Scotiabank boosted their target price on shares of 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. Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $13.00 to $17.00 in a research note on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price objective on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, June 9th. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Zacks Research lowered Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.43.
Read Our Latest Research Report on Telecom Argentina Stet – France Telecom
Telecom Argentina Stet – France Telecom Stock Down 0.1%
Insiders Place Their Bets
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 bought at an average cost of $13.43 per share, with a total value of $522,292.70. Following the completion of the acquisition, the director owned 399,348 shares of the company’s stock, valued at $5,363,243.64. The trade was a 10.79% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Institutional Investors Weigh In On Telecom Argentina Stet – France Telecom
A number of hedge funds and other institutional investors have recently made changes to their positions in TEO. RWC Asset Management LLP lifted its stake in shares of Telecom Argentina Stet – France Telecom by 50.7% in the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock valued at $11,717,000 after purchasing an additional 339,416 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in Telecom Argentina Stet – France Telecom during the first quarter valued at $8,565,000. Sagil Capital LLP acquired a new stake in Telecom Argentina Stet – France Telecom during the fourth quarter valued at $7,629,000. Banco BTG Pactual S.A. purchased a new position in Telecom Argentina Stet – France Telecom in the third quarter valued at $2,725,000. Finally, UBS Group AG increased its holdings in Telecom Argentina Stet – France Telecom by 25.7% in the fourth quarter. UBS Group AG now owns 293,659 shares of the utilities provider’s stock valued at $3,409,000 after buying an additional 60,033 shares in the last quarter.
Telecom Argentina Stet – France Telecom Company Profile
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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