Telecom Italia (TI) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Telecom Italia (NYSE:TI) from a buy rating to a hold rating in a report issued on Wednesday.

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. “

A number of other equities analysts also recently issued reports on the company. Goldman Sachs Group downgraded Telecom Italia from a buy rating to a neutral rating in a research report on Monday, November 13th. Scotiabank reiterated an outperform rating and set a $1.80 price target on shares of Telecom Italia in a research report on Wednesday, November 8th. Raymond James Financial downgraded Telecom Italia from a strong-buy rating to an underperform rating in a research report on Wednesday, January 17th. Finally, ValuEngine downgraded Telecom Italia from a strong-buy rating to a buy rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $5.90.

Telecom Italia (TI) opened at $8.92 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.19. Telecom Italia has a 1 year low of $7.50 and a 1 year high of $10.53.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Telecom Italia by 132.1% in the fourth quarter. CWM LLC now owns 247,502 shares of the utilities provider’s stock valued at $2,136,000 after acquiring an additional 140,868 shares in the last quarter. Aperio Group LLC lifted its position in shares of Telecom Italia by 6.7% in the third quarter. Aperio Group LLC now owns 174,725 shares of the utilities provider’s stock valued at $1,642,000 after acquiring an additional 10,971 shares in the last quarter. Permian Investment Partners LP lifted its position in shares of Telecom Italia by 12.5% in the third quarter. Permian Investment Partners LP now owns 163,377 shares of the utilities provider’s stock valued at $1,536,000 after acquiring an additional 18,200 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Telecom Italia in the second quarter valued at approximately $1,225,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Telecom Italia by 13.5% in the third quarter. Bank of New York Mellon Corp now owns 66,100 shares of the utilities provider’s stock valued at $622,000 after acquiring an additional 7,887 shares in the last quarter. Institutional investors and hedge funds own 0.75% of the company’s stock.

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Telecom Italia 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.

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