Telecom Argentina SA (NYSE:TEO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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 research analysts have also commented on TEO. TheStreet upgraded shares of Telecom Argentina SA from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. Morgan Stanley upgraded shares of Telecom Argentina SA from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $23.00 in a research note on Tuesday, September 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $20.28.

Analyst Recommendations for Telecom Argentina SA (NYSE:TEO)

Telecom Argentina SA (NYSE:TEO) opened at 18.45 on Tuesday. The stock’s 50 day moving average is $18.29 and its 200 day moving average is $18.44. Telecom Argentina SA has a 52 week low of $14.03 and a 52 week high of $20.28. The stock has a market cap of $3.58 billion, a PE ratio of 17.24 and a beta of 1.35.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its stake in Telecom Argentina SA by 3.3% in the second quarter. Franklin Resources Inc. now owns 1,941,707 shares of the company’s stock valued at $35,601,000 after buying an additional 62,700 shares during the period. Bienville Capital Management LLC increased its stake in Telecom Argentina SA by 4.2% in the second quarter. Bienville Capital Management LLC now owns 1,383,698 shares of the company’s stock valued at $25,363,000 after buying an additional 55,573 shares during the period. FMR LLC increased its stake in Telecom Argentina SA by 2.6% in the second quarter. FMR LLC now owns 1,340,703 shares of the company’s stock valued at $24,575,000 after buying an additional 34,090 shares during the period. Oaktree Capital Management LP increased its stake in Telecom Argentina SA by 7.4% in the second quarter. Oaktree Capital Management LP now owns 558,151 shares of the company’s stock valued at $10,231,000 after buying an additional 38,300 shares during the period. Finally, TT International increased its stake in Telecom Argentina SA by 52.1% in the second quarter. TT International now owns 289,160 shares of the company’s stock valued at $5,300,000 after buying an additional 99,085 shares during the period. Institutional investors and hedge funds own 8.64% of the company’s stock.

Telecom Argentina SA Company Profile

Telecom Argentina SA provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services.

5 Day Chart for NYSE:TEO

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