Telecom Argentina Stet – France Telecom S.A. (TEO) Raised to Hold at Zacks Investment Research

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

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 analysts have also recently commented on TEO. BidaskClub cut shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Morgan Stanley cut shares of Telecom Argentina Stet – France Telecom from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $25.00 to $28.00 in a research note on Thursday, August 10th. Finally, ValuEngine raised shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Three investment 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 stock presently has a consensus rating of “Buy” and an average price target of $29.67.

Shares of Telecom Argentina Stet – France Telecom (TEO) opened at $30.86 on Wednesday. Telecom Argentina Stet – France Telecom has a 52 week low of $17.04 and a 52 week high of $34.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.85. The company has a market cap of $6,311.17, a P/E ratio of 16.87, a PEG ratio of 1.37 and a beta of 1.48.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pictet Asset Management Ltd. acquired a new position in Telecom Argentina Stet – France Telecom in the second quarter valued at approximately $114,000. Quantbot Technologies LP acquired a new position in Telecom Argentina Stet – France Telecom in the third quarter valued at approximately $165,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Telecom Argentina Stet – France Telecom in the second quarter valued at approximately $208,000. Marathon Asset Management LP acquired a new position in Telecom Argentina Stet – France Telecom in the second quarter valued at approximately $215,000. Finally, BTC Capital Management Inc. acquired a new position in Telecom Argentina Stet – France Telecom in the second quarter valued at approximately $224,000. Institutional investors and hedge funds own 5.26% of the company’s stock.

About Telecom Argentina Stet – France Telecom

Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

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