Telecom Italia (TI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Telecom Italia (NYSE:TI) from a hold rating to a buy rating in a research note issued to investors on Thursday, September 20th. They currently have $7.50 price target on the utilities provider’s stock.

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. “

Several other brokerages have also recently weighed in on TI. Berenberg Bank cut Telecom Italia from a hold rating to a sell rating in a report on Thursday, May 31st. UBS Group lowered Telecom Italia from a neutral rating to a sell rating in a research report on Tuesday, July 10th. ValuEngine lowered Telecom Italia from a hold rating to a sell rating in a research report on Saturday, June 2nd. BNP Paribas restated an underperform rating on shares of Telecom Italia in a research report on Tuesday, September 4th. Finally, Citigroup upgraded Telecom Italia from a sell rating to a neutral rating in a research report on Monday, September 10th. Six analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $6.61.

Shares of Telecom Italia stock traded down $0.09 during trading on Thursday, reaching $5.69. The company’s stock had a trading volume of 184,564 shares, compared to its average volume of 169,566. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 8.37 and a beta of 0.62. Telecom Italia has a one year low of $5.44 and a one year high of $11.28. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.06.

A number of large investors have recently added to or reduced their stakes in the business. OLD Mission Capital LLC acquired a new position in Telecom Italia during the 2nd quarter worth approximately $104,000. Wetherby Asset Management Inc. acquired a new position in Telecom Italia during the 2nd quarter worth approximately $106,000. Tuttle Tactical Management acquired a new position in Telecom Italia during the 2nd quarter worth approximately $179,000. CWM LLC boosted its position in Telecom Italia by 37.6% during the 2nd quarter. CWM LLC now owns 434,705 shares of the utilities provider’s stock worth $3,191,000 after acquiring an additional 118,690 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Telecom Italia during the 2nd quarter worth approximately $1,498,000. 0.77% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Leveraged Buyout (LBO) Explained

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