Telecom Italia SpA (TI) Receives Average Rating of “Hold” from Brokerages
Shares of Telecom Italia SpA (NYSE:TI) have been given an average rating of “Hold” by the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $4.00.
TI has been the subject of a number of research reports. Zacks Investment Research cut Telecom Italia from a “hold” rating to a “sell” rating in a report on Thursday, December 20th. ValuEngine cut Telecom Italia from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. New Street Research cut Telecom Italia from a “buy” rating to a “neutral” rating in a report on Tuesday, January 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $1.25 target price on shares of Telecom Italia in a report on Tuesday, February 26th.
Institutional investors have recently bought and sold shares of the stock. Wetherby Asset Management Inc. lifted its position in Telecom Italia by 20.0% during the fourth quarter. Wetherby Asset Management Inc. now owns 13,033 shares of the utilities provider’s stock worth $72,000 after acquiring an additional 2,168 shares during the last quarter. Cerity Partners LLC raised its position in shares of Telecom Italia by 11.7% in the fourth quarter. Cerity Partners LLC now owns 19,969 shares of the utilities provider’s stock valued at $111,000 after buying an additional 2,086 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Telecom Italia in the third quarter valued at approximately $148,000. Blair William & Co. IL acquired a new stake in shares of Telecom Italia in the third quarter valued at approximately $178,000. Finally, Virtu Financial LLC raised its position in shares of Telecom Italia by 143.6% in the fourth quarter. Virtu Financial LLC now owns 35,620 shares of the utilities provider’s stock valued at $198,000 after buying an additional 20,999 shares in the last quarter. Institutional investors and hedge funds own 0.84% of the company’s stock.
About Telecom Italia
Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, the Mediterranean Basin, and South America. It offers landline and mobile telecommunications, voice, messaging, data, Internet, and broadband services for consumers, as well as for small and medium-size enterprises, small offices/home offices, public sector clients, large accounts, and enterprises in the fixed and mobile telecommunications markets.
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