Telecom Argentina Stet – France Telecom (NYSE:TEO) Raised to “Overweight” at Morgan Stanley

Telecom Argentina Stet – France Telecom (NYSE:TEO) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday,Benzinga reports. The brokerage currently has a $17.00 target price on the utilities provider’s stock, up from their prior target price of $13.00. Morgan Stanley’s price target suggests a potential upside of 27.68% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Zacks Research raised shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Scotiabank increased 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. Wall Street Zen upgraded Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. JPMorgan Chase & Co. boosted their price target on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 9th. Finally, Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Telecom Argentina Stet – France Telecom currently has an average rating of “Moderate Buy” and an average price target of $15.55.

Telecom Argentina Stet – France Telecom Price Performance

Shares of TEO opened at $13.31 on Wednesday. The firm has a market cap of $5.74 billion, a PE ratio of 26.03 and a beta of 1.32. The firm’s 50 day moving average price is $12.75 and its 200 day moving average price is $12.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. Telecom Argentina Stet – France Telecom has a twelve month low of $6.43 and a twelve month high of $16.34.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last posted its earnings results on Tuesday, February 10th. The utilities provider reported $0.02 EPS for the quarter. Telecom Argentina Stet – France Telecom had a net margin of 3.33% and a return on equity of 4.05%. The company had revenue of $1.35 billion during the quarter. As a group, research analysts expect that Telecom Argentina Stet – France Telecom will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average cost of $13.43 per share, for a total transaction of $522,292.70. Following the purchase, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Telecom Argentina Stet – France Telecom

Several hedge funds and other institutional investors have recently bought and sold shares of TEO. Acadian Asset Management LLC bought a new stake in shares of Telecom Argentina Stet – France Telecom in the first quarter valued at about $379,000. Arrowstreet Capital Limited Partnership increased its stake in Telecom Argentina Stet – France Telecom by 321.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 104,726 shares of the utilities provider’s stock valued at $925,000 after acquiring an additional 79,893 shares during the period. Marshall Wace LLP bought a new position in Telecom Argentina Stet – France Telecom during the second quarter valued at about $346,000. Jump Financial LLC acquired a new position in Telecom Argentina Stet – France Telecom in the 2nd quarter valued at approximately $596,000. Finally, Jane Street Group LLC bought a new stake in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter worth approximately $578,000.

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.