Telecom Argentina Stet – France Telecom (NYSE:TEO) Rating Increased to Overweight at Morgan Stanley

Telecom Argentina Stet – France Telecom (NYSE:TEO) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a $17.00 target price on the utilities provider’s stock, up from their previous target price of $13.00. Morgan Stanley’s price objective indicates a potential upside of 27.68% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Scotiabank upped their price target on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. Zacks Research raised Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Telecom Argentina Stet – France Telecom has an average rating of “Moderate Buy” and an average target price of $15.55.

Telecom Argentina Stet – France Telecom Stock Up 2.2%

NYSE TEO opened at $13.31 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $12.75 and its two-hundred day moving average is $12.05. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 26.03 and a beta of 1.32. Telecom Argentina Stet – France Telecom has a 1-year low of $6.43 and a 1-year high of $16.34.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last issued its earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter. Telecom Argentina Stet – France Telecom had a return on equity of 4.05% and a net margin of 3.33%.The business had revenue of $1.35 billion during the quarter. Equities analysts forecast that Telecom Argentina Stet – France Telecom will post 1.65 earnings per share for the current fiscal year.

Insider Activity at Telecom Argentina Stet – France Telecom

In other news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the completion of the transaction, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. The trade was a 10.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Several hedge funds have recently added to or reduced their stakes in TEO. Acadian Asset Management LLC bought a new position in Telecom Argentina Stet – France Telecom in the first quarter valued at about $379,000. Arrowstreet Capital Limited Partnership raised its holdings in Telecom Argentina Stet – France Telecom by 321.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 104,726 shares of the utilities provider’s stock worth $925,000 after purchasing an additional 79,893 shares during the last quarter. Marshall Wace LLP bought a new stake in Telecom Argentina Stet – France Telecom during the 2nd quarter worth about $346,000. Jump Financial LLC acquired a new position in Telecom Argentina Stet – France Telecom during the 2nd quarter valued at about $596,000. Finally, Jane Street Group LLC bought a new position in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter valued at about $578,000.

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.