Telecom Italia (TI) Upgraded to Hold at Zacks Investment Research
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. ValuEngine upgraded shares of Telecom Italia from a sell rating to a hold rating in a research report on Wednesday, March 27th. Canaccord Genuity reiterated a buy rating and set a $1.25 price target on shares of Telecom Italia in a research report on Tuesday, February 26th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and an average price target of $4.00.
Several institutional investors have recently modified their holdings of the company. Redwood Investment Management LLC bought a new position in shares of Telecom Italia in the first quarter worth approximately $507,000. Acadian Asset Management LLC bought a new position in shares of Telecom Italia in the first quarter worth approximately $112,000. Raymond James & Associates grew its holdings in shares of Telecom Italia by 7.7% in the first quarter. Raymond James & Associates now owns 163,137 shares of the utilities provider’s stock worth $1,025,000 after purchasing an additional 11,617 shares during the last quarter. Covenant Multifamily Offices LLC bought a new position in shares of Telecom Italia in the first quarter worth approximately $60,000. Finally, Geode Capital Management LLC grew its holdings in shares of Telecom Italia by 73.4% in the fourth quarter. Geode Capital Management LLC now owns 39,275 shares of the utilities provider’s stock worth $217,000 after purchasing an additional 16,627 shares during the last quarter. Hedge funds and other institutional investors own 0.81% of the company’s stock.
About Telecom Italia
Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, South America, and the Mediterranean Basin. The company operates through Domestic, Brazil, and Other Operations segments. It offers fixed and mobile voice and Internet, and public telephony services, as well as products managed and developed for individuals and families; and voice, data, and Internet services and products, and information and communications technology solutions for small and medium-size enterprises, small offices/home offices, the public sector, large accounts, and enterprises in the fixed and mobile telecommunications markets.
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