Zacks Investment Research Lowers Telecom Italia (TI) to Sell

Zacks Investment Research cut shares of Telecom Italia (NYSE:TI) from a hold rating to a sell rating in a research report released on Thursday, December 21st.

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. “

TI has been the topic of a number of other reports. Goldman Sachs Group downgraded shares of Telecom Italia from a buy rating to a neutral rating in a report on Monday, November 13th. Scotiabank reissued an outperform rating and set a $1.80 price target on shares of Telecom Italia in a report on Wednesday, November 8th. Finally, Sanford C. Bernstein reissued a market perform rating on shares of Telecom Italia in a report on Tuesday, August 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Telecom Italia presently has a consensus rating of Hold and an average target price of $5.78.

Shares of Telecom Italia (TI) opened at $9.17 on Thursday. Telecom Italia has a twelve month low of $7.50 and a twelve month high of $10.53. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.88 and a quick ratio of 0.85.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aperio Group LLC lifted its holdings in Telecom Italia by 6.7% during the third quarter. Aperio Group LLC now owns 174,725 shares of the utilities provider’s stock valued at $1,642,000 after purchasing an additional 10,971 shares in the last quarter. Permian Investment Partners LP lifted its stake 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 worth $1,536,000 after buying 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 worth about $1,225,000. Bank of New York Mellon Corp lifted its stake 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 worth $622,000 after buying an additional 7,887 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Telecom Italia in the first quarter worth about $278,000. 0.74% of the stock is currently owned by institutional investors and hedge funds.

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About Telecom Italia

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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