Telecom Italia (TI) Lowered to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Telecom Italia (NYSE:TI) from a hold rating to a sell rating in a report released on Tuesday morning.
According to Zacks, “The Telecom Italia Group is engaged principally in the communication sector that operates mainly in Europe, the Mediterranean Basin and South America. This includes telephone and data services on fixed lines (for final retail customers and wholesale providers), the development of fiber optic networks for wholesale customers, BroadBand services, Internet services, domestic and international mobile telecommunications (especially in Brazil), and the television sector using both analog and digital terrestrial technology. The Group also operates businesses in the office products sector. “
Other research analysts have also recently issued research reports about the company. Scotiabank restated an outperform rating and issued a $1.80 price target on shares of Telecom Italia in a research report on Wednesday, November 8th. Goldman Sachs Group cut Telecom Italia from a buy rating to a neutral rating in a research report on Monday, November 13th. Finally, Sanford C. Bernstein restated a market perform rating on shares of Telecom Italia in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Telecom Italia has an average rating of Hold and an average target price of $6.90.
Hedge funds and other institutional investors have recently modified their holdings of the stock. ETRADE Capital Management LLC bought a new position in shares of Telecom Italia in the second quarter worth $100,000. Janney Montgomery Scott LLC bought a new position in shares of Telecom Italia in the second quarter worth $158,000. Strategic Global Advisors LLC bought a new position in shares of Telecom Italia in the second quarter worth $178,000. Arrowstreet Capital Limited Partnership bought a new position in Telecom Italia in the second quarter valued at about $194,000. Finally, Renaissance Technologies LLC bought a new position in Telecom Italia in the first quarter valued at about $278,000. Institutional investors own 0.75% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Telecom Italia S.P.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telecom Italia S.P.A. and related companies with MarketBeat.com's FREE daily email newsletter.