The Goldman Sachs Group Issues Positive Forecast for Telecom Argentina (NYSE:TEO) Stock Price

Telecom Argentina (NYSE:TEO) had its price target increased by equities researchers at The Goldman Sachs Group from $7.30 to $8.30 in a report issued on Wednesday,Benzinga reports. The firm currently has a “sell” rating on the utilities provider’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 35.41% from the company’s previous close.

Several other research analysts have also commented on TEO. Scotiabank lowered shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and boosted their price objective for the stock from $5.70 to $6.10 in a research note on Friday, September 20th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday.

Telecom Argentina Trading Down 1.4 %

TEO opened at $12.85 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average is $9.25 and its two-hundred day moving average is $8.07. Telecom Argentina has a 1 year low of $5.52 and a 1 year high of $14.13.

Hedge Funds Weigh In On Telecom Argentina

Several hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in Telecom Argentina in the 2nd quarter worth approximately $334,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Telecom Argentina in the second quarter worth $174,000. Centiva Capital LP acquired a new stake in shares of Telecom Argentina during the third quarter worth $123,000. PFG Investments LLC purchased a new stake in shares of Telecom Argentina during the second quarter valued at $104,000. Finally, Stifel Financial Corp acquired a new position in shares of Telecom Argentina in the 3rd quarter valued at $91,000.

About Telecom Argentina

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.