JPMorgan Chase & Co. Issues Positive Forecast for Telecom Argentina Stet – France Telecom (NYSE:TEO) Stock Price

Telecom Argentina Stet – France Telecom (NYSE:TEO) had its target price raised by research analysts at JPMorgan Chase & Co. from $19.00 to $21.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 62.04% from the stock’s current price.

Several other brokerages have also commented on TEO. UBS Group decreased their price objective on Telecom Argentina Stet – France Telecom from $18.00 to $16.50 and set a “buy” rating for the company in a report on Wednesday, August 12th. Zacks Research downgraded Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $13.00 to $17.00 in a research note on Wednesday, June 24th. Weiss Ratings cut Telecom Argentina Stet – France Telecom from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.93.

Telecom Argentina Stet – France Telecom Price Performance

NYSE TEO opened at $12.96 on Friday. The company has a market cap of $5.58 billion, a PE ratio of 10.54 and a beta of 1.33. The firm’s 50 day moving average price is $13.39 and its 200-day moving average price is $12.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.58. Telecom Argentina Stet – France Telecom has a 52-week low of $6.43 and a 52-week high of $16.34.

Insiders Place Their Bets

In other news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $2.78, for a total transaction of $524,030.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Telecom Argentina Stet – France Telecom

Several institutional investors have recently added to or reduced their stakes in TEO. Y Intercept Hong Kong Ltd boosted its holdings in shares of Telecom Argentina Stet – France Telecom by 8.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider’s stock valued at $249,000 after buying an additional 1,628 shares in the last quarter. Bank of America Corp DE raised its stake in Telecom Argentina Stet – France Telecom by 21.3% during the 2nd quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 4,714 shares in the last quarter. EFG International AG acquired a new position in Telecom Argentina Stet – France Telecom in the fourth quarter valued at $58,000. Van ECK Associates Corp purchased a new position in Telecom Argentina Stet – France Telecom during the 3rd quarter worth approximately $43,000. Finally, XP Advisory US Inc. purchased a new position in Telecom Argentina Stet – France Telecom during the 2nd quarter worth approximately $82,000.

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.