Telecom Italia S.P.A. (TI) Given Average Rating of “Buy” by Brokerages

Telecom Italia S.P.A. (NYSE:TI) has earned an average recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.00.

Several brokerages have recently issued reports on TI. Sanford C. Bernstein reiterated a “market perform” rating on shares of Telecom Italia S.P.A. in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Telecom Italia S.P.A. from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a research note on Thursday, July 27th. Finally, BidaskClub upgraded Telecom Italia S.P.A. from a “sell” rating to a “hold” rating in a research note on Friday, June 30th.

Several hedge funds and other institutional investors have recently modified their holdings of TI. Bank of New York Mellon Corp raised its position in shares of Telecom Italia S.P.A. by 10.5% during the 1st quarter. Bank of New York Mellon Corp now owns 42,832 shares of the utilities provider’s stock worth $385,000 after acquiring an additional 4,080 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Telecom Italia S.P.A. by 1.6% during the 1st quarter. Gabelli Funds LLC now owns 382,000 shares of the utilities provider’s stock worth $3,442,000 after acquiring an additional 6,000 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Telecom Italia S.P.A. during the 1st quarter worth about $1,094,000. Ameriprise Financial Inc. raised its position in shares of Telecom Italia S.P.A. by 24.2% during the 1st quarter. Ameriprise Financial Inc. now owns 15,632 shares of the utilities provider’s stock worth $141,000 after acquiring an additional 3,050 shares in the last quarter. Finally, Rational Advisors LLC raised its position in shares of Telecom Italia S.P.A. by 14.3% during the 1st quarter. Rational Advisors LLC now owns 24,434 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 3,054 shares in the last quarter. 0.77% of the stock is currently owned by institutional investors and hedge funds.

Telecom Italia S.P.A. (TI) traded down 0.54% during mid-day trading on Wednesday, hitting $9.29. The company had a trading volume of 76,455 shares. The company has a market capitalization of $19.57 billion, a P/E ratio of 12.39 and a beta of 1.02. The company has a 50-day moving average price of $9.95 and a 200 day moving average price of $9.27. Telecom Italia S.P.A. has a 52-week low of $7.10 and a 52-week high of $10.53.

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Telecom Italia S.P.A. Company Profile

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.

Analyst Recommendations for Telecom Italia S.P.A. (NYSE:TI)

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