Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “

A number of other research analysts also recently weighed in on the company. ValuEngine raised Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub raised Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. HSBC Holdings plc lowered Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Bank of America Corporation upgraded Telecom Argentina Stet – France Telecom from a “neutral” rating to a “buy” rating and increased their target price for the stock from $26.00 to $30.00 in a report on Monday, July 3rd. Finally, TheStreet upgraded Telecom Argentina Stet – France Telecom from a “c+” rating to an “a” rating in a report on Monday, June 12th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.67.

Telecom Argentina Stet – France Telecom (NYSE:TEO) traded up 1.49% during mid-day trading on Wednesday, reaching $31.31. The company had a trading volume of 82,305 shares. Telecom Argentina Stet – France Telecom has a one year low of $17.04 and a one year high of $32.12. The firm has a market capitalization of $6.07 billion, a P/E ratio of 17.89 and a beta of 1.47. The firm’s 50-day moving average is $30.64 and its 200-day moving average is $26.48.

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A number of large investors have recently made changes to their positions in the business. Soros Fund Management LLC purchased a new stake in shares of Telecom Argentina Stet – France Telecom during the 1st quarter valued at $5,180,000. Fiera Capital Corp bought a new stake in Telecom Argentina Stet – France Telecom in the second quarter worth about $5,164,000. Acadian Asset Management LLC raised its position in Telecom Argentina Stet – France Telecom by 60.5% in the second quarter. Acadian Asset Management LLC now owns 508,691 shares of the utilities provider’s stock worth $12,890,000 after acquiring an additional 191,773 shares during the period. Freestone Capital Holdings LLC boosted its stake in Telecom Argentina Stet – France Telecom by 66.2% in the second quarter. Freestone Capital Holdings LLC now owns 317,654 shares of the utilities provider’s stock valued at $8,049,000 after acquiring an additional 126,578 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Telecom Argentina Stet – France Telecom by 76.6% in the first quarter. Goldman Sachs Group Inc. now owns 251,228 shares of the utilities provider’s stock valued at $5,575,000 after acquiring an additional 108,953 shares during the last quarter. Hedge funds and other institutional investors own 5.22% of the company’s stock.

About Telecom Argentina Stet – France Telecom

Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

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